Combo Mortuary Law
JR contracted to renovate an historic home for June for $50,000. The renovations were completed as required, except JR unintentionally failed to refinish one oak banister. It will cost $250 to have the banister refinished. Under these facts, JR can recover:
$49,750. JR substantially performed his duties. Thus, JR can enforce the contract, and June must pay for the contract price, less damages caused by JR's imperfect performance.
Point-of-sale systems
- EFTs begun at retailers when customers pay for goods or services
Voidable contract
- a contract which would be an enforceable agreement, but due to circumstances, may be set aside by one of the parties
Environmental Protection Agency (E.P.A.)
- a governmental agency with environmental protection regulatory and enforcement authority
Municipal ordinances
- a law enacted by a local municipal governing body (e.g., zoning, building, safety, etc.)
Third party beneficiary
- a person not party to a contract, but whom parties intend to benefit Creditor beneficiary -•the person to whom the promisee of a contract owes an obligation or duty which will be discharged to the extent that the promisor performs the promise•a person who is not a party to a contract to whom the promisor of a contract owes an obligation or duty
Fiduciary
- a relationship of trust and confidence, such as that which exists between partners in a partnership
Donee beneficiary
- a third party beneficiary to whom no legal duty is owed and for whom performance is a gift
Drafts
- a written order signed by one person requiring the person to whom addressed to pay a particular sum of money, to order or to bearer, on demand or at a certain time
Gambling contracts
- agreement in which the parties win or lose, based on chance
Preauthorized credit
- automatic deposit of funds to an account
Parol Evidence Rule
- complete, written contract may not be modified by oral testimony unless upon evidence of fraud, accident, or mistake
Innocent Misrepresentation
- false statement made in belief it is true
Embezzlement
- fraudulent appropriation of property by a person to whom it has been entrusted
State supreme court
- highest court in most states
Pledge
- intangible property serving as a security for a debt
Antitrust
- laws which seek to promote competition among businesses
Firm offer
- merchant's signed, written offer to sell or purchase goods saying it will be held open
- Uncured default
- not all payments on an instrument fully made and not all made by due date
Communication
- telling something to a third person
Novation
- the change of one of the parties to a contract at the mutual agreement of the original parties•termination of a contract and substitution of new contract with same terms but a new party•the substitution of a new party for one of the original parties to a contract, such that the prior contract terminates and a new one substitutes for it
Joint and several contracts
- two or more people bound jointly and individually by contract and who are entitled to recover individually and as a unit
Limited warranties
- written warranty that is not a full warranty
Punitive damages
-•an award paid to the plaintiff in order to punish the defendant, not to compensate the plaintiff•amount paid to one party to
Promissory estoppel
-•an equitable doctrine that prevents the promisor from revoking the promise when the promisee justifiably acts in reliance upon the promise to his detriment •substitute for consideration when another acts in reliance on promisor=s promise
Appellate courts
-•courts hearing cases appealed from a lower court•court that reviews the decision of another court, usually of a lower court
Intangible personal property
-•evidences of ownership of personal property, such as stock of corporations, checks, and copyrights •evidences of ownership of rights or values
Air Inc. (a common carrier) contracted to transport equipment for Shipper. Shipper requested Air Inc. to hold the equipment for one week prior to shipment. During this time, the equipment was damaged. Is Air Inc. liable for the damage to the equipment? *Yes, if equipment was damaged due to the negligence of Air Inc.
...
When a contract has been written in a form other than what the law requires...
...the contract is unenforceable
A contact is an agreement, but an agreement...
..need not be a contract.
Action Level
.5 ppm over 8 hour workday
General Price List 16 items
1 basic services 2 embalming 3 other preparation (dress, casketing, refrigeration) 4 services for facilities viewing 5 svc and facilities for funeral svc 6 svcs and facilities for mem svc 7 svc and equip for graveside svc 8 transfer of remains to FH 9 hearse 10 limo 11 casket price range (separate PL) 12 outer burial container price range (separate PL) 13 fwd remains 14 receive remains 15 direct cremation 16 immediate burial
Mandatory Disclosures (6)
1 choice of goods and svcs 2 nondeclinable service fee 3 embalming disclosure 4 availability of casket PL 5 availability of OBC PL 6 alt containers for direct cremation
FTC compliance Regulations
1 cognovit or a confession of judgment (can't waive right to be heard in a suit) 2 executory waiver from attachment to property 3 assignment of wages 4 security interest in household goods 5 cosignor practices 6 late charges
Magnuson-Moss Warranty Act
1. A Federal Statute which applies to written and implied warranties. 2. It applies only to purchases by consumers of tangible personal property
Disclaimers of Express Warranties
1. A disclaimer is a denial or repudiation in an express warranty that places specific limitations in the warranty. 2. Such a denial or repudiation in an express warranty is known as a DISCLAIMER and serves to limit the effectiveness of the warranty. 3. It is important to remember the application of the PAROL EVIDENCE RULE. So pursuant to the Parol Evidence Rule a court would be prohibited from considering oral warranties or disclaimers that are inconsistent with the written document.
Cremation
1. Although the book states "that _____________ is not technically a method of disposition, but that it is actually one step in a mode of disposition." I totally and absolutely disagree with this statement. In the laws of many of the States with which am familiar, the ______________ is the final disposition and requires the presence of the Funeral Director at the Crematory to sign in the Human Remains. 2. The burial or spreading of the Cremated Remains (Cremains) does not require the presence of the Funeral Director.
Express Warranty by Descripition, Sample or Model
1. Any ________________ of goods which is made part of the basis of the bargain creates an express warranty that the goods shall conform to the _________________. 2. Pursuant to the UCC (Uniform Commercial Code) a buyer may refuse delivered goods if the goods are not the same as described by the seller or do not conform to the __________ or __________ used by the seller to effect the sale.
Magnuson-Moss Applies to
1. Any written statement of fact made by a seller to a purchaser relating to the quality or performance of a product and stating that the product is free of defects or that it will meet a specified level of performance over a period of time, or 2. A written promise to "refund, repair, replace or take other action" if a product fails to meet written specifications. 3. Implied Warranties of Merchantibility.
After resending a contract you may
1. Bring suit to recover money, goods and damages 2. You may refuse to perform a duty 3. You may sue to have the contract judicially declared "void." 4. You may sue for reformation, or correction of the contract.
3 Types of Computer Criminal Activity
1. Computer Trespass 2. Rogue Program 3. Fraud
Police Powers
1. Enables the state legislatures to enact laws for the protection of the general welfare, health & safety. 2. Allows the states to set licensing standards
Two Manners of Contract Formation:
1. Express 2. Implies
Express Warranty by Promise
1. Express Warranties are explicit, definite __________ by the seller of goods that the goods will have certain characteristics. 2. The warranty is made by the seller to the buyer and becomes part of the basis of the agreement and it creates an explicit warranty that the goods will be as _________________.
General Rule for Right of Disposition
1. Generally speaking each state has provided a list of persons who are in charge of the funeral. For purposes of this course you must memorize the following list of family members and the order in which they would gain control of the funeral. a. Spouse b. Children c. Parents d. Siblings e. By blood meaning how closely cousins are related to the deceased. This is usually set forth by the individual states in a statute. 2. Many states, in their statutes, have modified this list, but for our purposes in this course this is the order of persons in line who have the right of disposition.
Exception to mistakes on unilateral contract:
1. If the unilateral mistake is a mistake of fact, not opinion. 2. If the other party knew of the mistake or caused it. 3. If the mistaken party exercised ordinary care.
Methods of Disposition
1. In-Ground Burial 2. Entombment 3. At-Sea - Must take place in the Ocean and be a distance of at least of 3 Nautical miles from the shore line. 4. Cremation 5. Anatomical Gift
Warranties
1. Is a guarantee or a promise made by the manufacturer or seller that the goods or services offered really are what they claim to be, or that goods or services are what a reasonable person has a right to expect. 2. Generally speaking ____________are divided into types - Express and Implied 3. It is important to understand when studying __________________ that in most situations they also limit the liability of the manufacturer. (i.e. Time or what is covered)
Dead Body
1. Is defined as the body of a human being that has been deprived of life, but not yet entirely disintegrated. 2. Bones of a skeleton DO NOT CONSTITUTE a _______.
Necessity of Disposition
1. It is within the police powers of the government to require the orderly disposition of the dead in order to promote public health. 2. States do not mandate a specific method of disposition.
Case Law
1. Many of the principles that govern funeral law have their roots in court decisions 2. If an administrative regulation exceeds the authority of the regulatory body which promulgated it, it is DECLARED VOID.
Sources of Mortuary Law
1. STATES are the principal regulators of the Funeral Profession. 2. Although the FTC does regulate certain segments of the Funeral business, the Federal regulations are the MINIMUM regulations that The Funeral professional must comply with. 3. Any regulations that the State would impose would be over and above the minimum regulations that Federal government has enacted. 4. Each state has an inherent authority known as POLICE POWER. 5. Prior to 1980, funeral law and regulations was solely governed by the States, since 1984 the FTC began to promulgate minimum rules and regulations.
Special Relationships
1. Sometimes there are no blood relatives and then it is left to the Courts to decide who will be charge of making decisions concerning the final disposition. 2. Some of the factors that will be considered would be if the parties were living under the same roof, financial support, mixing of finances, special intimacy between the decedent and the other person.
Exceptions to General Rule of Priority
1. States are not consistent on who should prevail in the case of a dispute between the surviving spouse and the contrary wishes of the decedent. 2. For example, in Kansas and Illinois the law allows the individual's agent for health care to make final funeral arrangements - here the agent's authority survives the death and the agent has disposition authority. 3. The State of New Jersey, however, has reaffirmed that the surviving spouse has the paramount right of disposition. The law recognizes that the decedent may provide other directions which will override the surviving spouse. The law specifically provides that a pre- need contract entered into by the decedent does not constitute "other directions" for the purposes of overriding the spouse's wishes.
Legal Status of a Dead Body
1. The courts have developed the principle that NO individual has property a right in the dead body. 2. Thus, it was said that a dead body is the property of no one and there is no property in a DEAD BODY. 3. Courts have stopped short of declaring that a dead body was the "PROPERTY" of the surviving family members, it recognized that survivors had QUASI PROPERTY rights to the dead body. 4. It is not property in the commercial sense, but the law does provide a bundle of rights to the next of kin in relation to that body.
Right of Custody
1. The person exercising the right of disposition is granted the right to take possession (remember not actual possession) and control of the body. 2. Custody of the dead body may be had ONLY for the purposes of disposing of it in the proper manner.
Right to Choose Disposition
1. The person in charge of the funeral has the right to choose the method of disposition. That means that he or she has the authority to choose how the body will be disposed of, for example cremation, burial or anatomical gift. 2. This authority is unfettered. 3. For example, if a man was widowed and then remarries someone who is substantially younger than his children and then dies the surviving wife is in charge of the funeral.
Right of Control of Funeral
1. The person in control of the funeral has FULL AUTHORITY to make funeral arrangements. 2. This authority gives the person the right to make all decisions concerning the funeral arrangements. 3. This would include, visitation, location of the funeral, type of funeral service, and choice of merchandise to name a few. 4. Also gives the person in charge the right to limit or exclude people from the funeral service. *** Many people are under the misconception that a Funeral Home is public building and therefore a funeral is open to the general public. This is incorrect. When a family utilizes your funeral home they are renting it and they have the authority to control who is allowed in. You do not, however, have any control over the cemetery.***
Types of Business Crimes:
1. Theft 2. Embezzlement 3. Larceny
Anatomical Gift Act
1. This act has been enacted in all 50 States. Although it has been enacted in all states there may be some variations from State to State. 2. Any individual of sound mind may donate his/her body to science. 3. The gift is effective upon death without waiting for probate. Of course this makes perfect sense since the person's Last Will & Testament may not be opened or found until long after the burial or cremation.
DISCLAIMERS OF WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE
1. To be valid these disclaimers MUST be in writing and must also be conspicuous. 1. Such expresses as "as is" or "with all faults" will be enough for the seller to have disclaimed the warranty.
A mutual mistake will not make a contract invalid if it involves:
1. Value, quality, price 2. Terms of the contract 3. The law --- the Law is fully binding 4. Expectations.
A promise must be supported by consideration except under the following exceptions:
1. Voluntary Subscriptions - When a charitable organization is financed by voluntary subscription, the promise of each person is held to be enforceable. 2. Consideration (payment) is not necessary to support a judgment on the basis that an obligation is enforceable as a matter of public policy. 3. Promissory estoppels - If one person promises to pay another and the other person acts as a result of the promise, the promiser has to uphold his end of the "contract."
Implied Warranties of Merchantability
1. Warranties of merchantability which are given solely by merchants 2. Warranties of fitness for a particular purpose, which apply more generally, to merchants as well as to others. 3. Comes into play because the law assumes that the goods sold by a merchant/seller are fit to be sold or resold, and therefore they carry an ___________________________.
Duty of FD in case of conflict
1. Where the right of disposition is in conflict the FD should hold the body until the proper party authorizes disposition. 2. There will be situations where the final resolution of the disposition will be the result of litigation, where the court will decide the issue.
Three examples of Insufficient or Invalid Consideration:
1.Promising to do what one is already obligated to do. 2. Promise to refrain from doing what one has no right to do. 3. Past Performance - An act done prior to the promise does not constitute consideration. If you tell a friend that you will mow his lawn for free, you cannot later collect money for the work after it is completed.
2 Types of Administrative Agencies:
1.Regulatory- govern economic activity of businesses 2.Non-Regulatory: in charge of benefits for social and economic welfare. Example- Railroad Retirement Board.
FTC Funeral real enacted in
1984
ADA accommodations
1992; if built after 1993 must be compliant older than 1993: improvements made or attempted if reasonable based on resources and structural viability
FTC Cooling off regulation
3 day right of recision in cases where FD contacted buyer in home; exception if buyer contacted FD at FH.
A reasonable time to make a presentment for drawers on uncertified checks is
30 DAYS.
A reasonable time to make a presentment for drawers on uncertified checks is
30 days
Grace period -
30- or 31-day period in which late premium may be paid without policy lapsing
A contract consisting of a mutual exchange of promises to perform future acts is
A BILATERAL CONTRACT
A contract that is contrary to public policy would be
A CONTRACT TO LIMIT THE FREEDOM OF MARRIAGE
A contract that is contrary to public policy would be
A CONTRACT TO LIMIT THE FREEDOM OF MARRIAGE.
Compu Co. and Gina entered into an illegal contract whereby Gina agreed to sabotage a competitor's business. The sabatoge is a crime. Gina failed to perform. Under these facts
A COURT WILL NOT REQUIRE GINA TO PERFORM THE AGREEMENT
A judicial admission
A FACT ACKNOWLEDGED IN A COURSE OF LEGAL PROCEEDING
Which of the following can be called valid consideration?
A PROIMSE TO DO SOMETHING IN EXCHANGE FOR ANOTHER PROMISE
Consideration can include
A PROMISE THAT IS CONDITIONAL
Which of the following can be called valid consideration
A PROMISE TO DO SOMETHING IN EXCHANGE FOR ANOTHER PROMISE.
Consideration can include:
A PROMISE TO GIVE AWAY ONE'S CAR.
An appeal is
A REQUEST TO A HIGHER COURT TO REVIEW A LOWER COURTS DECISION
Maker issued her negotiable promissory note to Barry Mills. Barry transferred the note to Hans for value. Barry indorsed the note" without recourse, Barry Mills." Under these facts:
A and B. - Barry's indorsement is a qualified indorsement. - Barry does not have secondary liability to pay the note if Maker fails t pay.
In which case did Holder have notice that the note was overdue or had been dishonored?
A and B. - Maker issued a note that was due June 1. Payee negotiated the note to Holder on June 2. - Maker issued a note due May 1, 2014. The note was negotiated to Holder on April 1, 2012. At time of negotiation, Holder knew that time for payment of the note had been accelerated.
Juan can obtain specific performance of which contract?
A and B. - Seller contracted to sell Juan a ranch. Seller wrongfully refuses to convey title. - Juan bought a hybrid bull to be used for breeding. Seller wrongfully refuses to perform. The bull is unique and cannot be replaced. Damages cannot be measured.
Chemco and Glen entered into an agreement whereby Glen agreed to wrongfully acquire a sample of a competitor's new fertilizer product in consideration for $10,000. Performance of the agreement would be both a crime and tort. Under these facts:
A and B. - The agreement is an illegal contract to sell. - A court would not enforce this agreement.
On May 1, John contracted to buy an existing, identified cabinet from Seller, a merchant. Documents of title were not involved. Delivery is required at Seller's business. On June 1, Seller tendered delivery of the cabinet to John, but John failed to take it. On July 1, John took physical delivery of the cabinet. Under these facts:
A and C. - John had an insurable interest in the cabinet on May 1. - Risk of loss passed to John on July 1.
In which situation may Nick Ames have secondary liability top pay the face amount of the check?
A and C. - Nick indorsed a check "Nick Ames," and negotiated it to a holder. - Nick signed and issued a check payable to cash.
Which contract is voidable?
A and C. - Robin and her son, Bob, have a confidential relationship; Robin does whatever Bob says. Robin sold some stock to Bob for an unfairly low price because he demanded that she do so. - Jan threatens to injure Carl's children and to burn Carl's home unless he lends Jan $10,000. As a result of these threats, Carl feels compelled to agree to the loan and he does so.
Which of the following statements is true?
A bailment arises when property is left for repair even though when returned it is repaired and therefore not identical to the property left
Warranty of Fitness of Purpose
A buyer must prove that... 1. The seller knew or had reason to know the buyer's purpose or intended use of the merchandise. 2. The seller knew or had reason to know that the buyer was relying on the seller's skill or judgment, and 3. The buyer did rely on the seller's skill or judgment.
Lien
A claim or charge against property for payment of some debt
Lien
A claim or charge against property for payment of some debt. (Does not apply against a dead human body for it is not property.)
Unsecured Claim
A claim which is not supported by a pledge of other assets belonging to the debtor.
Secured Claim
A claim which is supported by a pledge of assets belonging to the debtor.
Compu. Co. and Gina entered into an illegal contract whereby Gina agreed to sabotage a competitor's business. The sabotage is a crime. Gina failed to perform. Under these facts:
A court will not require Gina to perform the agreement.
Cadaver
A dead human body used for medical purposes including transplantation and anatomical dissection and study
Precedent
A decision of a court which is thereafter followed as an example in subsequent cases
All of the following statements are false, accept
A drawee is liable for payment of a draft only after accepting it
Palenski v. Bruning
A funeral director who assisted in an unauthorized autopsy was held jointly liable. Similar to Myers v. Clarke.
Morgan v. Richmond
A funeral director who withheld the body of a plaintiff's deceased mother until payment was made was liable for damages resulting from the humiliation, embarrassment and mental distress suffered by the plaintiff.
Gift Causa Mortis
A gift of personal property in contemplation of death. The donor must die for the gift to be effected.
Bequest
A gift of personal property in general by will.
Legacy
A gift of personal property, usually money, by Will.
Devise
A gift of real estate made by will.
Administrative Agency
A governmental body created by legislation empowered to regulate an industry and issue rules and regulations
Which of the following statements is not true?
A hotel keeper may not refuse accommodations to anyone who can pay for them
Guardian
A judicial appointment of a person to administer the affairs of another person who is incompetent by virtue of age or legal disability.
Statute
A law enacted by a federal or state legislative body
Ordinance
A law passed by a local municipal governing body
Creditor's Claim
A legal process used by one wishing to collect a debt from an estate.
Executor
A man appointed by the will of a deceased person to carry out the provisions thereof and settle the estate
Executor
A man appointed by the will of a deceased person to carry out the provisions thereof and settle the estate.
Administrator
A man who has been appointed by the court to settle an estate
Administrator
A man who has been appointed by the court to settle an estate.
Testator
A man who makes a valid will
Testator
A man who makes a valid will.
Uniform Probate Code
A model of law to achieve uniformity in probate proceedings throughout the U.S.
Soldiers And Sailors Will
A nuncupative will, informal in nature, in which a soldier in the field or sailor at sea may dispose of personal property only
Soldiers and Sailors Will
A nuncupative will, informal in nature, in which a soldier in the field or sailor at sea may dispose of personal property only.
Beneficiary
A person to whom property is left by will.
Stare Decisis
A policy of courts to stand by a precedent and apply it to all future cases where the facts are substantially the same
Abatement
A proportional reduction of a legacy under a will when assets out of which such legacy are payable are not sufficient to pay it in full.
Law
A rule of action prescribed by an authority able to enforce its will
Ethics
A set of moral principles or values governing individuals or groups; conforming to accepted professional standards of conduct.
Appendix A-The right to control funeral arrangements
A three-fold problem that confronts funeral directors: 1. The duty of final disposition 2. The right to control the funeral and burial 3. The duty to pay for the funeral and final disposition The right to control has a definite order: 1. The wishes of the deceased 2. The spouse as long as the decedent has not expressed contrary wishes, and those wishes are in accord with the public morality and policy. This right is absolute no matter how many ex-spouses or children 3.
Jackie offered to pay Glenn $500 in consideration for Glenn's actual, complete trimming of all trees located on Jackie's property. With the intent to accept Jackie's offer, Glenn completely trimmed the trees in question. Under these facts, Jackie and Glenn's agreement is:
A unilateral contract
Contesting A Will
A will can be set aside on the ground that it is not the free expression of the testator. Reasons include: lack of mental capacity, undue influence, and forgery.
Conditional Will
A will that is only effective upon the occurrence or satisfaction of a condition.
Holographic Will
A will written entirely by the testator with his own hand
Holographic Will
A will written entirely by the testator with his own hand.
Executrix
A woman appointed by the will of a deceased person to carry out the provisions thereof and settle the estate
Executrix
A woman appointed by the will of a deceased person to carry out the provisions thereof and settle the estate.
Administatrix
A woman who has been appointed by the court to settle an estate
Administratrix
A woman who has been appointed by the court to settle an estate.
Testatrix
A woman who makes a valid will
Testatrix
A woman who makes a valid will.
Limited Warranty
A written warranty that does not meet the minimum requirements of a full warranty.
Beth agreed to service a computer for AAA Tax Service. Beth unintentionally breached the contract. As a result, the computer suffered $250 damage. As could be anticipated, AAA also lost profits of $500 because it could not complete certain tax returns without the computer. Under these facts, what damages, if any, can AAA recover from Beth?
AAA can only recover compensatory damages of $750.
Which of the following is sufficient and valid consideration?
ACCEPTING A SECURED NOTE IN DISCHARGE OF AN UNSECURED NOTE FOR A GREATER AMOUNT
To recover for an intentional tort, the injured person must show
ACT, INTENT AND CASUATION
A party who actually does something or takes steps to cause a fraud commits
ACTIVE FRAUD
The maker of a promissory note
ADMITS THE EXISTENCE OF THE PAYEE
A written offer can be accepted by the offeree:
AFTER THE OFFEROR HAS COMMUNICATED IT TO THE OFFEREE.
A written offer can be accepted y the offeree
AFTER THE OFFEROR HAS COMMUNICATED TO THE OFFEREE
Corpse
AKA - Dead Body
In which case was Al legally entitled to revoke the offer in question?
AL OFFERED TO SELL HIS CONDO TO BEN. BEFORE BEN ACCEPTED, AL GAVE BEN WRITTEN NOTICE THAT SAID, "I TERMINATE MY OFFER."
In which case is the creditor entitled to sue for the unpaid balance of the debt?
ALICE OWED OTIS $500. THE DEBT WAS UNDISPUTED. ALICE AND OTIS AGREED THAT SHE WOULD PAY $200 IN CONSIDERATION FOR HIS PROMISE TO RELEASE ALICE FROM THE BALANCE OF THE DEBT
The unauthorized change in an instrument that modifies in any respect the obligation of a party to incomplete instrument is called .
ALTERATION
Which of the following statements is not true?
AN APPELLATE COURT HEARS TESTIMONY FROM WITNESSES
A judgment against a person's car would be
AN OBLIGATION OF RECORD
A judgment against a person's car would be:
AN OBLIGATION OF RECORD.
In order to have a valid contract there must be
AN OFFER AND AN ACCEPTANCE
The liability of a carrier for the passengers' safety begins:
AS SOON AS A PASSENGER ENTERS THE TERMINAL OR WAITING PLATFORM.
The party making the assignment is the ASSIGNOR; the one to whom the right in transferred is the
ASSIGNEE
An implied warranty arises;
AUTOMATICALLY WHEN A SALE IS MADE
An implied warranty arises:
AUTOMATICALLY WHEN A SALE IS MADE AND IS IMPOESED BY VIRTURE OF THE LAW.
Offeree's assent that an offer can be a contract is called:
Acceptance
A party does something that causes fraud by either misrepresentation or concealment of material facts.
Active Fraud
Boards and commissions with authority to regulate and implement laws are known as:
Administrative Agencies
ADEA
Age Discrimination Employment Act: no discrimination based on age (40+) if co is 20+ employees
When 2 or more persons' minds meet on any subject, no matter how trivial this is an:
Agreement. When the parties intend to become legally obligated by the terms of agreement a contract is made.
In which case was Al legally entitled to revoke the offer in question?
Al offered to sell his condo to Ben. Before Ben accepted, Al gave Ben written notice that said "I terminate my offer".
In which case is the creditor entitled to sue for the unpaid balance of the debt?
Alice owed Otis $500. The debt was undisputed. Alice and Otis agreed that she would pay $200 in consideration for his promise to release Alice from the balance of the debt.
Eva, age sixteen, contracted to buy a motor scooter from Seller. Seller told Eva the scooter after she told him that she was 21 years old. After using the scooter for one year, Eva attempted to disaffirm the contract. The scooter was worth $300 less due to its use by Eva. In this case:
All of the above - Eva committed a tort by misrepresenting her age to Seller. - In some states, Eva would not be permitted to disaffirm the contract. - In some states, Eva can disaffirm, but she must pay $300 damages to seller.
Which oral contract is unenforceable because it violates the Statute of Frauds?
All of the above. - Biff orally contracts to sell his ranch to Marty. - Sue orally leases her home to Larry for two years. - Lin orally grants Kelly a right-of-way (easement) to cross over Lin's land.
Dave issued a check to Payee. Payee indorsed the check and delivered it to Harold. At Harold's request, the First Bank of Fruita (drawee bank) certified the check. Under these facts:
All of the above. - Certification discharged Dave from his liability to pay the check. - Certification binds First Bank of Fruita to the admissions made by an acceptor. - Certification caused First Bank of Fruita to become liable to pay the check.
In which case does Jeanne commit a computer crime?
All of the above. - Jeanne works for a federal agency. To protest the US foreign policy, Jeanne sabotaged the agency's computer system, causing substantial damage to the system. - Jeanne is employed by Motorworks, an exclusive car dealer in Beverly Hills. Secret customer data that cannot be obtained elsewhere is maintained on the company's computer. Jeanne secretly prints out the information and sells it to a competitor of Motorworks. - Jeanne wrongfully obtains access to IBM's computerized payroll system, and she causes IBM to issue her ten checks for a total of $50,000. Jeanne cashes the checks.
What is Quasi-Property?
Almost property. Rights to possess, use, exclude, profit, and dispose.
ADA
Americans with Disabilities Act: Prohibits employers from discriminating against disabled employees requires funeral homes to make accessible to disabled public 15 or less employees: exempt from ADA
Outrageous Act
An act with complete disregard for proper conduct which transcends the bounds of common decency
Replevin
An action to recover possession of wrongfully withheld personal property
Codicil
An addition or amendment of a last will and testament executed with the same formality as the will.
Abatement
An addition or amendment of a last will and testament executed with the same formality of the will
Federal Trade Commission (FTC)
An agency of federal government created in 1914 to promote free and fair competition by prevention of trade restraints, price fixing, false advertising and other unfair methods of competition
Solvent Estate
An estate in which the assets exceed the liabilities
Solvent Estate
An estate in which the assets exceed the liabilities.
Will
An instrument executed with required formality by a person making disposition of his/her property to take effect upon his/her death.
Which of the following statements correctly describes the type of property involved?
Animals, furniture, clothing, and jewelry are types of tangible personal property.
Regulation of a business seeking to promote competition are the purpose of:
Anti-Trust Laws
Maker signed a note for $10,000 which is payable May 1, 2013. Maker delivered the note to Paul. On June 1, 2012, Paul negotiated the note to Antonio. Antonio would NOT be acting in good faith in which situation?
Antonio bought the note from Paul for $1,000 (an unreasonably large discount). Under the circumstances, a reasonable person would have known that something was improper.
Constitutional Law
Any Fundamental or important law or edict
Common Carrier
Any carrier required by law to carry passengers or freight without refusal if the approved fare or charges is paid
Test of Death
Any procedure used to prove a sign of death
Expert Test of Death
Any procedure used to prove a sign of death, usually performed by medical personnel
Residuary Bequest
Anything remaining after the rest of an estate has been distributed.
Case Law
Appellate court decisions that establish preceding principles
FTC Credit Practices Regulation
Applies whenever FH allows payment over time through note, account, or similar debt instrument
Implied Warranties
Are guarantees that are suggested or inferred from known facts and circumstances.
Express Warranties
Are those warranties that are explicit and specifically stated promises.
The liability of a carrier for the passengers' safety begins
As soon as a passenger enters the terminal or waiting platform
The party making the assignment is the _______The party making the assignment is the _______
Assignor;assignee
Livery
Automotive equipment made available for hire
Bob has filed a civil lawsuit against Acme Corp. Bob is suing Acme for physical injuries that he suffered due to Acme's negligence. All pleadings have been filed. Select the correct answer regarding Acme's right to discover information from Bob.
B and C. - Acme can request Bob to submit to a reasonable physical examination by a doctor. - Acme can take Bob's deposition regarding the accident.
Nicole sold her FAX to Jasper. Jasper paid Nicole with a bad check. Jasper's bank refused to pay the check due to insufficient funds. Prior to Nicole's rescinding the sale, Jasper sold the FAX to Gary for value. Gary was unaware of the transaction between Nicole and Jasper. Under these facts:
B and C. - Gary received valid (good) title to the FAX. - Nicole cannot recover the FAX from Gary.
Which third party is a third-party beneficiary who can enforce the contract in question?
B and C. - Ned contracted with Rock Insurance Co. whereby the insurance company agreed to pay $10,000 to Ned's sister (third party) upon Ned's death. - Sara contracted to sell her car to Tom for $1,000. The contract requires Tom to pay the $1,000 directly to Last Chance Bank (third party) to whom Sara owes $1,000.
Select the correct statement:
B and C. - On a commodity exchange, Seller contracted to sell John a quantity of oil at a fixed price in one year. Seller intends to perform the contract. The contract is legal and enforceable. - Cap and Sue bet one another $100 on who would win the Super Bowl. They gave the money to Leslie to hold. If requested, a court would make Leslie return the money to Cap and Sue.
In which situation is the Downtowner Hotel entitled to refuse accommodation to Paula?
B and C. - Paula is denied a room because the hotel does not have any available rooms. - Paula is denied a room because she is intoxicated and she is insulting hotel guests.
B&K Inc. authorized its president, Tim Blue, to borrow $50,000 from Bank. Tim negotiated a loan and he signed a note in the manner indicated below. In this case, select the correct answer.
B&K Inc. is liable to pay the promissory note.
A check drawn by one bank on another is called a
BANK DRAFT.
In which situation does Wescott make a valid offer?
BART SIGNED A WRITTEN OFFER TO BUY LAND. THE OFFER APPEARS TO BE A SINCERE OFFER. UNKNOWN TO THE SELLER, BART DECIDES NOT TO BUY THE LAND UNLESS HE CAN FIRST SELL SOME OTHER PROPERTY
A written contract obligation, usually under seal, generally issued by a corporation, municipality, or government, that contains a promise to pay a sum at a fixed date is called a .
BOND
The administrative steps taken after the arrested person is brought to a police station, which involved entry of the persons name, the crime for which the arrest was made, and other relevant facts on the policy "blotter": and which may also include photographing, fingerprinting, and the like is termed
BOOKING
Statutes can be characterized as:
BY GROUPS OF PERSONS ELECTED BY THE VOTERS.
In which situation does Bart make a valid offer?
Bart signs a written offer to buy land. The offer appears to be a sincere offer. Unknown to the seller, Bart decides not to buy the land unless he can first sell some other property.
Batesville casket company, located in Batesville, Indiana, contracted to sell a shipment of caskets to Morningstar Pet Memorial and Cremation Service, located in Monterey Park, Ca. The caskets were sold "F.O.B. Monterey Park." Batesville Casket Co duly delivered the caskets to a carrier in Indiana for shipment to Morningstar Pet Memorial and cremation Service in California. The caskets were damages during shipment. Under these facts
Batesville Casket Company bears the loss of the caskets that occurred during shipment
Interstate
Between two or more states
A contract where promises are required for both parties.
Bilateral contract
First 10 Amendments to the US constitution are known as the:
Bill of Rights (1791)
Lineals
Blood descendants. Children and grandchildren, including legally adopted children.
Define Mortuary Law
Branch of law which relates to matters concerned with disposal of the dead Rules and principles that society has established for handling and disposition of the dead.
Failure of one of the parties to perform the obligations assumed under the contract.
Breach of Contract
Brenda applied to Lender for credit to buy a car. Brenda was denied credit because of an inaccurate credit report that was negligently prepared for Lender by Reliable Credit Agency. Under these facts:
Brenda can sue Reliable for ordinary damages she suffered due to the inaccurate report.
In a typical state court system, which answer would be correct?
Bruce is suing a manufacturer for $60,000 for breach of contract under state law. A state court of original general jurisdiction would have jurisdiction to try this case for the first time.
A class of laws dealing with the rules of conduct prescribed by government for business transactions.
Business Law
Select the promise, agreement, or debt of record that is not legally binding.
Buyer and Seller agreed to modify a land sale contract by reducing the price from $15,000 to $10,000. Buyer did not give anything in return for Seller's promise to lower the price.
Duress:
CAN BE CLAIMED AS A HYBRID DEFENSE.
The exclusion of warranties:
CAN BE MADE BY UNCONSCIONABLE PROVISIONS.
When an offer is made, it
CAN BE REVOKED EVEN IF THE OFFEROR HAS PROMISED TO KEEP IT OPEN
When an offer is made:
CAN BE REVOKED EVEN IF THE OFFEROR HAS PROMISED TO KEEP IT OPEN.
A contract not to compete
CAN BE VALID WHEN BUYING A BUSINESS OR MAKING AN EMPLOYMENT CONTRACT
A contract not to compete
CAN BE VALID WHEN BUYING A BUSINESS OR MAKING AN EMPLOYMENT CONTRACT.
If any term in a negotiable instrument is left blank and the drawer then delivers the instrument to another person for completion, the drawer:
CANNOT RAISE THE DEFENSE OF IMPROPER COMPLETION AGAINST THE HOLDER IN DUE COURSE
Appellate court decisions that establish precedent principles are collectively termed
CASE LAW
Which of the following writings may be a negotiable instrument?
CASTELLO-CHASE SIGNED A NOTE PROMISING TO PAY $900 ON DEMAND TO BEARER. THE NOTE STATES THAT THE NOTE IF GIVEN IN CONSIDERATION FOR AN EMBALMING MACHINE THAT CASTELLO-CHASE PURCHASED FORM SINCERE MEMORIES AND EVERLASTING LEGACIES MORTUARY
Chemco manufactures and distributes chemical products. Chemco is concerned that its production, distribution, and disposal of chemical products may be subject to federal environmental laws. Which federal act most directly regulates Chemco's business activities?
CERCLA
Cindy saw Carl's Lawn Service mowing a neighbor's lawn. Cindy pointed to her lawn, gesturing that she wanted it mowed. In response, Carl mowed Cindy's lawn. Under these facts
CINDY AND CARL MADE AN IMPLIED CONTRACT, AND CINDY IS OBLIGATED TO PAY FOR CARL'S SERVICES
The first national environmental piece of legislation was the
CLEAN AIR ACT
A/n _______ carrier transports goods or persons, without discrimination, for all who apply for that service.
COMMON
An agent that denotes property is possessed for the purpose of sale by someone who does not own it is called
CONSIGNMENT
Which contract is defective due to a mistake?
CONTRACTOR SUBMITTED A BID TO OWNER THAT OWNER ACCEPTED. DUE TO A MATH ERROR THE BID WAS $20,000, INSTEAD OF $30,000 AS INTENDED. OWNER WAS AWARE OFF CONTRACTOR'S MISTAKE
The unauthorized exercise of ownership rights over another's property is called
CONVERSION.
A person to whom the promissee owes an obligation or duty that will be discharged to the extent that the promisor performs the promise is called the
CREDITOR beneficiary.
Duress
Can be claimed as a hybrid defense
Package Funerals
Can be on GPL, not in lieu of may be offered at discount
What is another name for the "Laws of the Church?"
Cannon
if any term in a negotiable instrument is left blank and the drawer then delivers the instrument to another person for completion, the drawer
Cannot raise the defense of improper completion against the holder in due course
Cindy saw Carl's Law Service mowing a neighbor's lawn. Cindy pointed to her lawn, gesturing that she wanted it mowed. In response, Carl mowed Cindy's Lawn. Under these facts:
Cindy and Carl made an implied contract, and Cindy is obligated to pay for Carl's services.
Law dealing with enforcement or protection of private rights.
Civil Law
The first national environmental piece of legislation was the:
Clean Air Act
This act regulates air quality and pollutants.
Clean Air Act
Related to codes of professional responsibility. Ex. American Bar Association, American Medical Association.
Codes of Ethics
Customs recognized by courts as binding on the community. They began in England.
Common Law
Custom which has come to be recognized as binding by the court is
Common law
This Act seeks the cleanup of wastes from previous activities and requires notification of the release of hazardous wastes. Is referred to as the "superfund" law.
Comprehensive Environmental Response - Compensation and Liability Act
Compu Co. is one of the two largest manufacturers of computers in the US. Which action or agreement does NOT violate federal antitrust laws?
Compu sells its Y computer in one market for $1,000, and it sells the same computer in other markets for $950. The pricing difference is due to a difference in transportation costs.
Crimes committed with the aid or involvement of a computer.
Computer Crimes
The unauthorized use of or access to a computer.
Computer Trespass
One hides facts so they will not be discovered by the other party is known as:
Concealment
Representation of goods and services as those of another leading to customer confusion. This tort occurs from trademark or trademark infringement or unfair competition.
Confusion of source
Markham's Emporium has been in business for thirty years, and it has an excellent reputation. John wants his new store to be a success, so he erects a large sign over his business reading "Markham's Emporium". Under these facts, John is probably liable for the tort of:
Confusion of source.
What one demands or receives as the price for a promise. It may be of monetary value or a particular action.
Consideration
Define Common Law
Consists of principals, maxms, and decisions that have been passed down for hundreds of years. Incorrectly called "unwritten laws". Fills in the gaps of our legal system.
Document defining relationships of the parts of government to each other and to its citizens. It is not easily amended or repealed.
Constitution
A(n)_________ bailment arises when someone finds and takes possession of lost property
Constructive
A legally enforceable agreement between 2 or more competent persons. (Does not require written documentation.)
Contract
Copying software illegally (pirated software) is an example of:
Copyright infringement
Allen v. Jones
Court added (to Lamm v. Shingleton) the award of damages for mental distress against the funeral director serves as a useful & necessary means to maintain professional standards in the funeral industry. Added that damage for mental anguish is often the only method to compensate victims of wrongful acts by funeral directors.
Estate of Harper v. Orlando Funeral Homes
Court held that absent a physical impact, mental anguish for negligent funeral directing could not be recovered unless plaintiff allege that defendant's conduct exceeded all bounds reasonably tolerated by society such as to suggest malice or the entire want of care or great indifference.
Myers v. Clarke
Court held that funeral directors who, w/o permission of the next of kin, permitted autopsies to be jointly liable w/ the person performing the autopsy.
Lamm v. Shingleton
Court, noting the personal nature of the funeral contract & the fact that the contract itself puts the funeral director on notice that a breach of contract would probably result in mental anguish, held the damages from mental anguish could be awarded in cases involving breaches of funeral contract.
Konecny v. Hohenschuh
Courts are in an apparent agreement that funeral directors are not required to challenge the coroner's authority to conduct the autopsy in order to avoid possible liability for participating or consenting to an unauthorized autopsy. (Similar to Gurganious v. Simpson.)
Gurganious v. Simpson
Courts are in an apparent agreement that funeral directors are not required to challenge the coroner's authority to conduct the autopsy in order to avoid possible liability for participating or consenting to an unauthorized autopsy. (Similar to Konecny v. Hohenschuh.)
Zoning
Creates laws for orderly development of geographical area; protects citizens' property, health, safety, welfare
An offense that tends to injure society.
Crime
A law dealing with crimes and punishment.
Criminal Law
Comman Law
Customs which have become recognized by the courts a binding on the community
The penalty for breaching a rule that is a civil wrong is
DAMAGES
Regarding the duration of an offer
DEATH OR INSANITY OF OFFEROR TERMINATES THE OFFER
Regarding the duration of an offer:
DEATH OR INSANITY OF OFFEROR TERMINATES THE OFFER
An unsecured bond or note issued by a business firm is called a .
DEBENTURE
A breach of contractual obligations other than money, such as a contract to build a house, is referred to as
DEFAULT
To recover for an intentional tort, the injured person must show:
DEFENDANT'S ACT ALONE, AN INTENTION TO CAUSE THE CONSEQUENCES OF THE ACT ALONE AND CAUSATION AND INTENT.
The intentional transfer of possession and control of something is called:
DELIVERY
A contract involves specific subject matter, the destruction of the matter without the fault of the parties
DISCHARGES THE CONTRACT BECAUSE OF IMPOSSIBILITY OF PERFORMANCE
If a contract involves specific subject matter, the destruction of the matter without the fault of the parties:
DISCHARGES THE CONTRACT BECAUSE OF IMPOSSIBILITY OF PERFORMANCE.
Use of goods by a buyer for the purpose of trial;
DOES NOT MEAN APPROVAL
Use of goods by a buyer for the purpose of trial:
DOES NOT MEAN APPROVAL.
Uniform Commercial Code provides that the parties' modification of a contract for the sale of goods:
DOES NOT REQUIRE CONSIDERATION.
Most administrative agency regulation is
DUE TO THE COMPLEX NATURE OF THE AREA OF REGULATION
Which oral promise or contract violates the Statute of Frauds?
Dad and Jose made an oral contract whereby Dad promised to make Jose general manager of a company in consideration of Jose's promise to marry Dad's daughter.
Cameron has filed a civil suit against Ann regarding a car accident. Cameron is suing Ann for money to compensate him for the destruction of his car. What remedy should Cameron request?
Damages
Money a wrongdoer must pay to an injured party. Injured party refers to a person or estate against which a wrong was committed.
Damages
In most states, which right can be assigned without statutory restriction and without the consent of the party whose obligation is being assigned?
Danna contracted to pay $100 to Bret. Bret wants to assign the right to receive this money.
Cellular Death
Death of the individual cells of the body
Somatic Death
Death of the organism as a whole
Merchant
Defined as anyone who deals in goods of the kind being sold in the ordinary course of business or someone who presents himself or herself as having the skills or knowledge relating to the goods
Denise issued three checks to various payees. In which case does Denise have a limited defense?
Denise issued a check to Contractor in payment for certain remodeling work. Contractor performed the work improperly, a breach of contract.
Phrase that means to "set it aside."
Disaffirmance
The repudiation or setting aside pf a contract is called:
Disaffirmance
A/n __________beneficiary is one to whom the promise owes no legal duty but to whom performance is a gift, such as the beneficiary named in a life insurance contract.
Donee
In which case did Holder take the check with notice of a defense or adverse claim?
Drawer issued a check for Payee's services. At the time Payee negotiated the check to Holder, Holder knew that Drawer claimed that Payee had improperly performed the services.
Obtaining consent by means of a threat.
Duress
When a person destroys another's free will by obtaining contractual consent as a result of a wrongful threat, it is called
Duress
Which contract(s) is required to be evidenced by a writing to be enforceable?
During on shopping trip to a nursery, Mercedes selected six trees from different parts of the nursery. Each tree cost $200. One purchase agreement was prepared for the six trees.
which of the following contract(s) is/are required to be evidenced by a writing to be enforceable?
During one shopping trip to Nordstrom, wescott with the help of a personal shopper, selected six suits from different area of the store. Each suit cost $200. One purchase agreement was prepared for the six suits
In which case is Conn Carrier (a common carrier) liable for the damage or loss in question?
During shipment, goods are stolen by a thief.
Professional
Duties consist of performance of learned, artistic, or education matters; work requires consistent exercise of discretion and judgment; work is predominantly intellectual and output can't be standardized in relationship to time.
According to the Statute of Frauds
ELECTRONIC SIGNATURES ARE NOT PERMISSIBLE AND LEGALLY ENFORECEABLE
Government regulated business to
ELIMINATE ABUSES AND MINIMIZE UNDESIREABLE CONDUCT
Government regulates business to:
ELIMINATE ABUSES AND MINIMIZE UNDESIREABLE CONDUCT.
No administrative agencies has the power to
ENACT RULES THAT CANNOT BE APPEALED
Statutes can be characterized as
ENACTED BY GROUPS OF PERSONS ELECTED BY THE VOTERS
Most of American law has its roots in
ENGLISH COMMON LAW
Which of the following provides relief other than merely money damages?
EQUITY
A party who actually does something or takes steps to cause a fraud commits:
EXACT REPRESENTATION
The Statute of Frauds applies only to
EXECUTORY CONTRACTS
The Statute of Frauds applies only to:
EXECUTORY CONTRACTS.
A contract in which parties indicate their intentions by written or spoken words is a/n
EXPRESS contract.
What are five forms of accepted methods of disposition?
Earth burial, Cremation, Burial at Sea, Entombment, Anatomical donation.
Ellen bought an economy ticket for a short commute on R&R Railroad, a common carrier. Ellen did not buy a reserved seat that was available. In which case would R&R be liable to Ellen?
Ellen was injured when an R&R employee negligently dropped a suitcase on her foot.
Fraudulent conversion of another's property by someone is lawful possession of the property is called:
Embezzlement
Property is handled inconsistently with the arrangement by which he or she has possession of it.
Embezzlement
Equal pay act
Employer may not discriminate on basis of sex unequal pay based on seniority, merit, or other factors
Rules and Regulations
Enactments by an administrative body within the jurisdiction of that agency
Most of American law has its roots in
English Common Law
Uniformity among the legal system and courts based on fairness.
Equity
Principles closely related to morals are:
Ethics
When all duties of a contract have been performed it becomes an:
Executed contract
Classification of FT employees (4)/white collar exemptions
Executive (directs 2+ employees) administrator (office/personnel director; uses own jdg) professional (output cannot be quantified) Commissioned outside sales person (self expl)
Bloodborne pathogen standard
Exp control plan to cite safe work practices hep b vaccs PPE training exposure incidents recordkeeping
When both parties express intentions by words, writing or orally, where the terms are by words, writing or oral, where the terms are expressly stated or written.
Express contract
Creditor
Extends credit 25x or more/year *Disclosures not required if credit extended less than 25x/year
A mistake as to the terms of the contract usually result from
FAILURE TO READY THE WRITTEN CONTRACT
A mistake as to the terms of the contract usually result from
FAILURE TO READY THE WRITTEN CONTRACT.
The law that requires creditors to notify potential recipients of credit whenever any adverse action was based on a credit report is the
FAIR CREDIT REPORTING ACT.
A carrier of goods is a bailor
FALSE
A check is a type of note.
FALSE
A check on which additional space is provided for the drawer to make a notation for which the check is issued is referred to as a trailing edge check. .
FALSE
A contract to sell has the same legal effect as a contract of sale.
FALSE
A draft is also called a bill of lading.
FALSE
A negotiable instrument may be oral or written.
FALSE
A not must be payable to "bearer."
FALSE
A peel-away is a claim by a party being sued against the party suing.
FALSE
A person can still be liable on instruments if debts have been discharged by bankruptcy.
FALSE
A person who accepts a draft is called the drawer.
FALSE
A preauthorized credit done electronically still requires the payee to deposit a check.
FALSE
A returnable goods transaction is not considered a sale if the goods are purchased for resale.
FALSE
A standardized bill of sale form is required for all sales.
FALSE
A stop-payment order must be in writing.
FALSE
All contracts for the sale of goods must be in writing when the sale prices is $1000 or more.
FALSE
All promissory notes are negotiable.
FALSE
Although a bank has many responsibilities to its customers, customers have no responsibilities themselves. .
FALSE
An auction contract is made when a bidder calls out a bid.
FALSE
An instrument transferred on the date of maturity is past due.
FALSE
Article 2 of the UCC is effective in all states except Montana.
FALSE
Forgery is considered a hybrid defense.
FALSE
Generally, the defenses available in a dispute over a contract may be raised against holders who qualify as holders in due course.
FALSE
If Last National Bank negotiated a variable interest loan to Keston, Keston could come back and say the variable rate destroys negotiability.
FALSE
If a maker cannot write his or her name, someone else must forget the name.
FALSE
If a separate sales slip is written for each purchase as an individual goes through a store, the series is considered one sale.
FALSE
If the name of the payee or indorsee of an instrument in misspelled, it renders the check void.
FALSE
In the vast majority of sales transactions, either the buyer or the seller experiences some type of problem.
FALSE
Loss or destruction or a negotiable instrument automatically discharges its obligation.
FALSE
Negotiable instruments are rarely made payable to more than one person.
FALSE
One who has received a negotiable instrument as a present can be a holder in due coarse. .
FALSE
References to bills of exchange and instruments of credit appeared as early as 6000BC.
FALSE
Risk of loss to unidentified goods falls on the buyer.
FALSE
The UCC classifies a certificate of deposit as a draft.
FALSE
The annual percentage rate (APR) is the same thing as finance charges.
FALSE
The assurance that the seller has ownership of goods an the transfer to a buyer is lawul is called warranty of encumbrances.
FALSE
The number s at the bottom of a check identifies the type of check it is.
FALSE
The only way an instrument can be made payment is on demand.
FALSE
Two essential elements of a contract are offer and counteroffer
FALSE
When a person knows a commercial paper is being executed and knows its essential terms but is persuaded to execute it because of false statements, this is a defense against a holder in due coarse.
FALSE
A carrier is liable for damage due to the inherent nature of goods, such as rotting of fruits.
FALSE.
A check or promissory note tendered as payment but refused by the seller still constitutes a payment under the Statute of Frauds.
FALSE.
A thief may legally transfer title to property.
FALSE.
If existing goods require transporting, title passes at the time and place of contracting.
FALSE.
The relationship of guest and hotelkeeper continues even if the guest arranges for permanent residence at the hotel.
FALSE.
Whenever canned peas are sold, no breach of warranty exists if ground glass is found in the can.
FALSE.
Regarding shipments, which piece of legislation governs interstate shipments?
FEDERAL BILLS OF LADING ACT
Magnusson Moss Warranty Act
FH provides warranties on merch they sell, even if they don't manufacture it selling a casket implies it is structurally sound
A person in relationship of trust and confidence is called .
FIDUCIARY
The first step in bringing the legal action is
FILING SUIT
Vision of paradise mortuary plans to advertise a prearranged funeral plan for sale on credit. The ad wills ate the credit price for the prearranged funeral plan. What other information must this ad disclose in order to comply with the truth-in-lending act?
FINANCE CHARGE, APR, AND THE NUMBER, AMOUNT, AND DUE DATES OF PAYMENTS
Fair Labor Standards Act
FLSA: Covers co's with gross annual sales <$500k $362k (prior to 1990) to $500k: still subject to OT, child labor laws, and recordkeeping
The letters "F.O.B." stand for
FREE ON BOARD.
Goods of like nature that may be sold by weight or measure are _______ goods.
FUNGIBLE
Negligence
Failure to exercise ordinary care
A contract involves right but not necessarily obligations.
False
A contract that is set aside because of illegality always involves the commission of a crime.
False
A debt that has been outlawed by the statute of limitations can never be revived.
False
A delegation relieves the delegating party of all liability under the contract.
False
A mistake of opinion can render the contract void.
False
A mutual mistake occurs when only one party makes a mistake
False
A normal way a case gets to the Supreme Court is by application for a writ of habeas corpus.
False
A valid contract can be set aside by one of the parties.
False
Adequacy of consideration is a major factor of a promise.
False
All agencies have the power to set standard rates.
False
All agreements are binding contracts.
False
All contracts must be typewritten.
False
All courts interpret "mutual mistake" the same way
False
All rules are laws.
False
All states are consistent in their laws regarding capacity to contract.
False
An agreement by which one person promises to pay a sum of money or to give property to another in consideration of marriage is illegal.
False
An offer can be definite or vague, depending upon the situation.
False
Both parties must have signed the note or memorandum required by the Statute of Frauds.
False
Constitution is whatever the promisor demands and receives as the price for a promise.
False
Contracts for services that take less than six months must be in writing.
False
Creation cannot be a viable way to acquire personal property according to the UCC
False
Electronic signatures are now permissible and legally enforceable.
False
Ethical standards stay constant over time.
False
Ethics is the study of morality of conduct.
False
Government regulation of business is conducted by the judicial branch.
False
If Ransome sells the Chevallier, a car for $10,500 when the car's value was really $4,400, Chevallier can rescind the contract because of mistake.
False
If a person incidentally benefits by the performance of a contract, suit for breach or for performance will be successful.
False
If an offer was made in a moment of extreme fear or anger, there is every reason for an offer to believe it was seriously intended.
False
If the tender used as payment is refused, the debt is discharged.
False
In most jurisdictions, if a minor disaffirms a contact and returns the property in damaged condition, the adult can recover damages.
False
Invitations and offers are the same thing.
False
Marks that are fanciful, arbitrary or subtly suggest something about the product, such as the Nike "Swoosh," cannot be legally protected.
False
Misdemeanors are more than serious felonies.
False
Most minors' contracts are voidable at the adult's option.
False
Notice must be given to the other party in order to make the assignment effective between the assignor and the assignee.
False
Promising not to sue someone is consideration even if one does not have a basis for suing.
False
Property includes only physical, tangible things.
False
Satisfactory performance and substantial performance are the same thing
False
Some contracts can be for unlawful purposes, depending upon who negotiates them
False
Strict tort liability makes it impossible for an injured person to recover damages from the manufacturer of a defective product.
False
Sunday contract laws are consistent within all 50 states.
False
The English Parliament enacted the Statute of Frauds in 1814 as a response to legal issues arising from the War of 1812.
False
The Federal Trade Commission Act encourages false advertising
False
The U.S. Supreme Court cannot reverse its own decisions.
False
The United States has very few federal laws regarding the environment.
False
The bailor is the one who accepts possession of the property but not the title.
False
The legal rate is considerably higher than the contract rate.
False
The main objective of law is to provide lawyers and judges with jobs
False
The most important antitrust law is the Civil Rights Act of 1964.
False
The original U. S. Constitution as adopted in 1792 guaranteed individual rights for citizens.
False
The transfer of possession, but not title, of personal property by one party is called bail bonding.
False
The unauthorized use of or access to a computer is computer transfer.
False
Tortious acts can never be considered crimes also.
False
Under common law, private wagering contracts were unenforceable. However, now under the UCC, most private contracts are enforeceable.
False
When all terms of a contract have been fulfilled, the contract is discharged by novation.
False
FTC
Federal Trade Commission
Minimum wage
Federal: $7.25 higher standard observed if conflict
Crimes punishable by imprisonment for more than 1 year up to death is a:
Felony
The first step in bring a legal action is:
Filing suit
Autos Inc. plans to advertise a car for sale on credit. The ad will state the credit price for the car. What information must this ad disclose in order to comply with the Truth-in-Lending Act?
Finance charge; APR; and the number, amount, and due dates of payments.
Which transaction is a sale of goods that is governed by Article 2 of the UCC?
Floors, Inc., a manufacturer or carpeting, sells a shipment of carpeting to Retailer.
When one refrains or promises to refrain form doing something, it is called
Forbearance
Escheat
Forfeiture of a decedent's property to the state in the absence of heirs.
This contract must be in a special form or created a certain way: under seal, recognizance, or negotiable instruments.
Formal
Specific OSHA Standards for Funeral Homes (3)
Formaldehyde Exposure Standard Hazard Communication Standard Bloodborne Pathogen Standard
General Price List
Foundation of Funeral Rule given to consumer prior to purchasing anything detailed/itemized name and address, phone #, and effective date must be on it
One who intentionally induces another to enter into a contract as the result of a false statement or material fact commits:
Fraud
This is Larceny and Embezzlement such as bank deposits made to just one individual.
Fraud
A person signs a contract without understanding the language in which it is written.
Fraud in the Execution
A false statement is made regarding the terms of agreement, quality of goods, or seller's intent to deliver goods. The contract is voidable and this is known as:
Fraud in the Inducement
Scheuer v. William F. Howard Funeral Home
Funeral Home embalmed w/o permission and in violation of the decedent's Jewish faith. Funeral director testified he "was aware the deceased was Jewish and saved two bottles of blood to be buried w/ her." Court permitted the plaintiff to bring an action finding there was an issue for a jury to decide.
What is another term for mortuary law?
Funeral Law
Audia v. Rossi Bros. Funeral Home
Funeral director mistakenly switched bodies in setting up two visitations. Ohio Supreme Court refused to allow an action for the negligent infliction of emotional distress. Court held that Ohio law did not recognize an exception even when the allegations involved the negligent handling of a dead body.
Sworski v. Simmons
Funeral director received an unidentified body from a coroner who advised him to embalm the body. He followed the advice and embalmed before next of kin could be located. Family sued for mutilation of the body, court held that it was not a defense to claim that the embalming was beneficial.
Kennedy v. Ricker Funeral Home
Funeral director was held liable for injuries incurred by the plaintiff pallbearer when the pallbearer fell while carrying a handleless casket into the church. Staff negligently did not instruct pallbearer on how to properly hold the casket.
Appendix C-Mental anguish
Funeral directors should realize that: 1. A contract whereby a mortician agrees to prepare a body for burial is one in which it is reasonably foreseeable that any breach may cause mental anguish and liability 2. Public policy requires that morticians adhere to a higher standard of care in view of the potential psychological devastation likely to result from any mistake
Holsen v. Heritage Mut. Ins. Co.
Funeral home mixed-up two bodies and had the plaintiff's father wrongfully interred. When the body was not available for visitation, the court found the funeral home negligently interfered with the family's common law right to properly conduct a funeral. Could be sued for negligent infliction on mental distress.
Watts v. Rhondes
Funeral homes were found liable for injuries resulting from icy walkways and ramps leading to and from the funeral home. (Similar to Filipak v. Plombon.)
Filipak v. Plombon
Funeral homes were found liable for injuries resulting from icy walkways and ramps leading to and from the funeral home. (Similar to Watts v. Rhondes.)
In a typical state court system, which would be correct?
GARCIA IS SUING SINCER MEMORIES AND EVERLASING LEGACIES FOR $60,000 FOR BREACH OF CONTRACT UNDER THE STATE LAW. A STATE COURT OF ORIGINAL GENERAL JURISDICITON WOULD HAVE JURISDITION TO TRY THIS CASE FOR THE FIRST TIME
The truth in lending act;
GIVES A DEBTOR THREE DAYS TO RESCIND A MORTGAGE EXECUTED ON THE DEBTOR'S PRINCIPAL
A copyright:
GIVES THE OWNER THE EXCLUSIVE RIGHT TO REPRODUCE, COPY, OR PERFORM A WORK.
Indorsers who escalate their liability to primary status are called .
GUARANTORS
Timing of Express Warranties
Generally speaking most express warranties are made before or during the sales transaction, writing or oral statements issued by the seller after the transaction has been completed also can be interpreted as express warranties.
The U.S. supreme court
HAS APPELLATE JURISDICTION IN CASES BASEDON THE US CONSTITUTION, A FEDERAL LAW OR TREATY
In an auction, if a bid is made while the hammer is falling in acceptance of a prior bid, the auctioneer:
HAS THE OPTION OF REOPENING THE BID OR DECLARING THE GOODS SOLE.
Administrative agencies:
HAVE THE POWER TO REGUALTE PARTICULAR MATTERS OR IMPLEMENT LAWS.
Administrative agencies
HAVE THE POWER TO REGULATE PARTICULAR MATTERS OR IMPLEMENT LAWS.
Federal district courts
HEAR ALL CRIMINAL CASES INVOLVING A VIOLATION OF FEDERAL LAW
The unauthorized outsider who gains access to another computer system.
Hackers
Who felt that the legal system should be "more fair" to the upper class citizens?
Hammurabi
Which agreement by Heifer Co. does NOT violate the Sherman Antitrust Act?
Heifer gives A&A Grocery the exclusive right to sell Heifer's products in a small town. This agreement is evaluated under the rule of reason, and it does not lessen competition.
In the following cases involving delivery and acceptance, select the correct answer.
Hill rents a boat to Neuman. The boat is located at a distant lake. Hill gives Neuman keys of the boat. Neuman drives to the lake and takes possession of the boat. In this case, Neuman is a bailee.
Recommended OSHA practices
Hypodermics should be stored with covers trocars must be stored with covers suture needles stored in sponge with disinfectant use forceps to get sharps out of a drawer remove scalpel blades with a device
Which of the following would be legally acceptable promise?
I PROMISE TO PAY GLENN BOWER $5000 ON MARCH 21
Which of the following would be a legally acceptable promise?
I PROMISE TO PAY RAY JOHNSON $5000 ON MARCH 21.
An element of promissory estoppel would be
IF A PROMISE IS MADE
An element of promissory estoppel would be:
IF A PROMISE IS MADE.
Rosa sued T&S Co. for breach of contract. The jury returned a verdict in favor of Rosa for $5,000. Under these facts
IF THE JUDGEMENT IS APPEAKED, THE COURT OF APPEALS MAY REVERSE THE JUDGMENT IN THE LOWER COURT COMMITTED SERIOUS ERRORS OF LAW
Sate superfund laws:
IMPOSE A LIABILITY FOR CLEANUP COSTS OF HAZARDOUS WASTES
State Superfund laws
IMPOSE A LIABILITY FOR CLEANUP COSTS OF HAZARDOUS WASTES
An offer may be accepted
IN A REASONABLE MANNER
An offer may be accepted
IN A REASONABLE MANNER.
A hybrid defense would be
INCAPACITY OTHER THAN MINORITY
A hybrid defense would be
INCAPACITY OTHER THAN MINORITY.
If a negotiable instrument is made payable to multiple persons:
INDORSEMENT DEPENDS UPON THE LANGUAGE USED IN THE INSTRUMENT.
If a negotiable instrument is made payable to multiple persons
INDORSEMENT DEPENDS UPON tHE LANGUAGE USED IN THE INSTRUMENT
A permanent judicial order or decree forbidding the performance of a certain act is an
INJUCTION
The power to issue cease and desist orders is termed
INJUCTIVE POWER
A false statement of fact that degrades the quality of another's goods or services is called
INJURIOUS FALSEHOOD.
Contracts, copyrights, certificates of stock, accounts receivable and notes receivable are known as
INTANGIBLE PROPERTY.
The chief function of courts is to
INTERPRET AND APPLY THE LAW FROM WHATEVER SOURCE TO A SITATION
Which contract is voidable?
IRVING CONTRACTS TO BUY A CAR. DUE TO A MENTAL ILLNESS, IRVING CANNOT UNDERSTAND THAT HE HAS MADE A CONTRACT, AND HE IS UNABLE TO UNDERSTAND THE CONTRACT'S BASIC TERMS
The legal system we have in America
IS BASED HEAVILY ON THE ENGLISH LEGAL SYSTEM OF COMMON LAW AND EQUITY
A check is a special type of draft which
IS DRAWN ON A BANK AND PAYABLE ON DEMAND
The agreement which is vital to a contract
IS FREQUENTLY CALLED "A MEETING OF THE MINDS"
The agreement which is vital to a contract.
IS FREQUENTLY CALLED "A MEETING OF THE MINDS"
A rule is called a law when it
IS ISSUED BY A SOVEREIGN STATE.
The warranty against encumbrances
IS MADE BY ALL SELLERS
A unilateral mistake:
IS MADE BY ONLY ONE OF THE PARTIES.
Refraining from doing something is valid consideration with the act refrained from:
IS SOMETHING THE PROMISOR HAS NO RIGHT TO DO.
Refraining from doing something is valid consideration when the act refrained from
IS SOMETHING THE PROMISOR HAS THE RIGHT TO DO
Specific Legacy
Identifiable personal property (such as a specific bank account).
Specific Bequest
Identifiable personal property.
Specific Devise
Identifiable real property.
Rosa sued T&S Co. for breach of contract. The jury returned a verdict in favor of Rosa for $5,000. Under these facts:
If the judgment is appealed, the court of appeals may reverse the judgment if the lower court committed serious errors of law.
Ilas issued a check for 500$ in payment for some cremated remains containers from wizzard hill. Mieh, owner of Wizzard Hill, negotiated the check to an innocent purchaser, Ms Madueno. Which defence can Ilas assert against Ms Madueno, the innocent purchaser?
Ilas has a defense of minority because she is 17
Which of the following transactions is a sale of goods that is governed by article 2 of the UCC?
Ilas, a manufacturer of cremation urns, sells a shipment of urns to Happily Ever after Memorial Gardens.
When the duties of the parties in a contract are not expressed but are implied by action or conduct.
Implies Contract
Seller validly offered to sell a carpet-cleaning franchise to Joe for $50,000. Which of the following expressions by Joe would constitute a valid acceptance of the offer?
In writing, Joe states: "I accept the offer".
For an agreement to be enforceable at law all parties must have the legal and mental capacity to contract. According to the law, some parties lack mental capacity and are considered:
Incompetent
A courts permanent order forbidding an action is called a/an
Injunction
A permanent order forbidding a certain action that would be a detriment to others.
Injunction
A false statement made while believing it is true is known as:
Innocent Representation
Will
Instrument executed with required formality by a person making disposition of their property to take effect upon their death
Gourmet Co. was in the final stage of negotiating a contract with Last Airway. It appeared that a contract would be signed. To defeat Gourmet's chance for this contract, Foodway Corp. bribed union officials to conduct an illegal strike of Gourmet. As a result, Gourmet did not get the contract. What tort did Foodway Corp. commit?
Interference with prospective advantage.
When a person doies without leaving a will, that person dies
Intestate
Which contract is voidable?
Irving contracts to buy a car. Due to a mental illness, Irving cannot understand that he has made a contract, and he is unable to understand the contract's basic terms.
Actual Possession
Is when the person has possession of the physical body
Constructive Possession
Is when the person who is in charge of the funeral has ______________ of the body when the body is physically in the funeral home.
Which promise or agreement constitutes a valid contract?
JUAREZ AND LOPES ARE COMPETENT ADULTS, AND IN A SIGNED WRITING LOPEZ AND JUAREZ AGREE THAT JUAREX WILL SELL HER CAR TO LOPES FOR $2,000
In a state court of record, the chief officer is the
JUDGE
When person voluntarily acknowledges a fact during the course of some legal proceeding, it is called
JUDICIAL ADMISSION.
Sources of American laws include
JUDICIAL DECISIONS, LEGISLATIVE STATUTES, CONSTITUTIONS AND ADMINISTRATIVE AGENCIES
A verdict is the decision of the
JURY
In a typical jury trial
JURY IS SELECTED BEFORE OPENING STATEMENTS ARE MADE
Where do our laws come from?
JUSTICIAL DECISIONS, LEGISLATIVE STATUTES, CONSTITUTIONS AND ADMINISTRATIVE AGENCIES.
Select the correct answer?
Jake signed and delivered a negotiable draft payable to the order of Carl. To negotiate this draft, Carl must indorse the note and deliver it to a transferee.
What are the three countries and one state that utilize the code of Napoleon?
Japan, Louisiana, Italy, Egypt.
In a state court of record, the chief officer is the:
Judge
Which contract is unenforceable?
Judy orally contracted to buy $800 of cosmetics. She sent the seller an unsigned purchase order for the cosmetics. The purchase order stated all of the terms of the proposed contract.
The power of authority to hear a case is called:
Jurisdiction
Ken contracted to set up ordinary accounting books for Paul's business. The contract requires the books to be satisfactory to Paul. Ken set up the books in accordance with generally accepted accounting principles, and a reasonable person would be satisfied with the books. However, Paul refuses to pay because he is not actually satisfied with the books. Under these facts:
Ken can enforce the contract because a reasonable person would be satisfied.
Select the correct answer:
Ken does all his banking with City Bank. Ken's creditor asks City Bank for private information regarding Ken's assets and debts. In this case, City Bank owes Ken a duty to protect the confidentiality of this information; it should not disclose this information.
Select the correct statement:
Kit sold an engine to Buyer. Unknown to the parties, Kit did not have title to the engine. In this case, the warranty of title is breached.
Which writing may be a negotiable instrument?
Kyle signed a note promising to pay $900 on demand to bearer. The note states that the note is given in consideration for a stereo that Kyle purchased from ABC Inc.
Criminal laws include
LAWS DEALING WITH CRIMES AND THE PUNISHMENT OF WRONGDOERS AND LAWS DEALING WITH OFFENSED AGAINST SOCIETY
A misdemeanor is an
LESS SERIOUS CRIMINAL OFFENSE GENERALLY PUNISHALBE BY FINE AND OR IMPRISIONMENT OF LESS THAN ONE YEAR
Powers of regulatory agencies include
LICENSING AND RATE MAKING
Powers of regulatory agencies include:
LICENSING AND RATE-MAKING.
Real property
Land and its improvements; such as structures or buildings
Taking and carrying away property without consent of the person in possession is called:
Larceny
Taking and carrying away property without consent of the person in possession with the intention of depriving the person of the property.
Larceny
Otis issued and signed his personal check ordering Last Bank to pay $500 to the order of Yuan Chan. He delivered the check to Yuan. Yuan took the check to Last Bank and authorized bank officer wrote "accepted for payment" on the check and signed it. Under these facts:
Last Bank is a drawee and an acceptor.
A governmental rule setting forth conduct for behavior and penalty for its violation.
Law
A framework to keep society operating smoothly.
Laws
Crimianl Law
Laws dealing with crimes and the punishment of wrongdoers
Traditionally, which offense is classified as a felony?
Lee stole a car. This offense is punishable by imprisonment for five to ten years.
Chuck agreed to lend Fay some Money. Under state law, Fay is obligated to pay interest on the loan if she does not repay it on time. However, the agreement between Fay and Chuck does not specify what rate of interest Fay will pay. Under these facts, Fay must pay the:
Legal rate.
RBK Inc. borrowed $500,000 from Lender and RBK issued a promissory note for this amount to Lender. Payment of the note is secured by stock, bonds, and equipment owned by RBK. Subsequently, RBK defaulted in payment of the note. Under these facts:
Lender can sell the stock, bonds, and equipment to obtain payment of the note but any excess proceeds belong to RBK.
Appendix B-Liability for funeral expenses
Liability may arise in two ways: 1. Contract law obligation (express, implied, and quasi-contracts) 2. Common law obligation The prudent funeral director must be aware of who has the responsibility to pay. An express contract is necessary to insure payment and there is no such thing as an implied contract for the funeral. Primary liability for funeral expenses is upon the estate, however, it is far better to view the quasi-contract estate liability as a last resort
A _______ defense is one that cannot be used against a holder in due course
Limited
_____ defenses can also be called personal defenses and are different from _____ defenses
Limited/ universal
Inventory (In Probate)
Listing and valuation of a decedent's assets by personal representative of the estate.
Art sold a truck to Luis for $20,000. Art misrepresented the truck. As a result, Luis has a defense and he is only obligated to pay Art $15,000. For value, Art assigned to Stella the right to receive the $20,000 from Luis. Luis was given notice of assignment. Under these facts:
Luis must pay Stella $15,000.
Among the duties a bank owes its customer, the depositor-drawer, are to
MAINTAIN SECRECY REGARDING INFORMATION ACQUIRED BY IT IN CONNECTION WITH THE DEPOSITOR-BANK, RELATIONSHIP
Which contract described below is enforceable?
MARTY WAS IN A HURRY AND IDNT READ THE FINANCING CONTRACT SHE SIGNED. SHE WAS LATER SURPRISED TO FIND OUT SHE WAS RESPONSIBLE FOR TITLE AND RECORDING FEES
The highest rate of interest that may be charged is called
MAXIMUM CONTRACT rate
A postdated check
MAY B PAID BY THE BANK BEFORE ITS DATE
When an assignment is made by acts of the parties, it
MAY BE EITHER WRITTEN OR ORAL
When an assignment is made by acts of the parties, it:
MAY BE EITHER WRITTEN OR ORAL.
Mindy was a minor at the time she bought a stereo. Under these facts, select the correct answer
MINDY CAN DISAFFIRM THE CONTRACT, AND THE SELLER MUS REPAY ALL MONEY PAID BY MINDY
Several defenses (called hybrid defenses) may be either universal or limited, depending on the circumstances of a case. Which of the following is NOT on of these?
MINORITY.
Which of the following states regarding minors and torts is correct
MINORS ARE AS LIABLE FOR TORTS AS ADULTS ARE
Regarding minors and torts:
MINORS ARE AS LIABLE FOR TORTS AS ADULTS ARE.
Traditionally, which offense is classified as a felony?
MOACIR STOLE A CAR. THIS OFFENSE IS PUNISHABLE BY IMPRISONMENT FOR FIVE TO TEN YEARS
If a promisor agrees to become responsible for the debts or default of another, it
MUST BE IN WRITING
If a promisor agrees to become responsible for the debts or default of another, it:
MUST BE IN WRITING
All contracts
MUST BE SUPPORTED BY CONSIDERATION, WITH FEW EXCEPTIONS
All contracts:
MUST BE SUPPORTED BY CONSIDERATION.
A draft
MUST CLEARLY SHOW THAT THE SIGNATURE IS INTENDED TO BE THAT OF A DRAWER
In a/n ______bailment, the bailee renders a service and charges for the service. Then the bailee holds a lien against the bailed property for the charges.
MUTUAL-BENEFIT
In which case does Holder give value?
Make issued a note to Priscilla. Priscilla negotiated the note to Holder in payment for equipment that Holder delivered to Priscilla.
Maker issued three negotiable notes. In which case doe maker have a universal defense?
Maker issued a note to Lender. Maker issued the note due to the wrongful threats of Lender. Under state law, the duress exerted by lender would render a contract void.
In which case is the implied warranty of fitness for a particular purpose breached?
Manufacturer made an unusual egg incubator and sold it to City Zoo. At time of contracting, Manufacturer knew Zoo needed an incubator for hatching ostrich eggs, an unusual purpose, and that Zoo was relying on Manufacturer to make a proper incubator. (Zoo did in fact rely on Manufacturer). The incubator delivered did not hatch ostrich eggs; it baked them.
The six legal systems of historical importance?
Maritime Laws, The Torah, Roman Law, Cannon Law, Code of Napoleon, Anglo-American Common Law.
Sarah issued and signed a negotiable promissory note promising to pay $1,000 to the order of Martha Yeager. On the back of the note, Martha wrote "Pay to Terrence Jones, (signed) Martha Yeager," and she delivered the note to Terrence. Under these facts:
Martha is an indorser.
Which contract described below is enforceable?
Marty was in a hurry and didn't read the financing contract she signed. She was later surprised to find out she was responsible for title and recording fees.
Mental Anguish
Mental suffering resulting from grief, severe disappointment, indignation, wounded pride, shame, public humiliation, despair, etc.
A person who is intoxicated, insane, or incompetent as a result of a stroke, dementia, or retardation is said to be:
Mentally incompetent
Garcia issued a check payable to the order of marina Mieh. Mieh Endorsed the check "MARTINA MIEH" and delivered to to Diana lopez. Under these facts
Mieh may have secondary liability to pay the check if it is dishonored
Mind was a minor at the time she bought a stereo. (For purposes of this question, assume that eighteen is the age of majority). Under these facts, select the correct answer.
Mindy can disaffirm the contract, and the seller must repay all money paid by Mindy.
Fredrick v. J.E. Hixon
Minister at a graveside service was injured by slipping on artificial grass mats covering a marble slab. Funeral director was found jointly liable w/ vault company. Court held the funeral director had full responsibility to conduct the funeral, funeral director breached the duty of care he owed the invitees.
Offenses usually punishable by fine or imprisonment for a county or local jail are:
Misdemeanors
A false statement of a material fact is known as:
Misrepresentation
#1 Reason Contracts are Defective
Mistakes. Whether the mistake is on one party or on both parties, it affects the validity of that contract.
Mr. Conrad issued a negotiable promissory note payable to Seller in payment for a new crane. Seller negotiated the note to Mr. Innocent, a holder in due course. Which defense can Mr. Conrad use against Mr. Innocent?
Mr. Conrad has a defense of insanity because he had been previously declared incompetent by a court. Under state law, this defense renders a contract void.
At-Sea Disposition
Must be at least three nautical miles from Shore line
Define the term Dead Body
Must be human. Must be without life. Must not be entirely disintegrated.
Hazard Communication Standard
Must disclose information concerning hazardous materials they work with: MSDS Container labeling Employee training hazard communication program
Disclaimer of warranty of merchantability
Must mention the word merchantability.
In a(n)_____________bailment, the bailee renders a service and charges for the service, and then the bailee holds a lein against the bailed property for the charges.
Mutual-benefit
Quinn rents a paint spray gun from U-Rent-Um Rentals for $25 per day. This bailment is correctly described as a:
Mutual-benefit bailment
A negotiable instrument:
NEED NOT BE DATED.
Formal contracts include
NEGOTIABLE INSTRUEMENTS
Formal contracts include
NEGOTIABLE INSTRUMENTS
The act of transferring ownership of a negotiable instrument to another party is called _________..
NEGOTIATION
Causes of contract being discharged because of impossibility of performance include
NEW LAWS MAKING THE CONTRACT ILLEGAL, PHYSICAL INCAPACITY OF PERSONS TO RENDER PERSONAL SERVICES, WRONGFUL ACTS OF OTHER PARTIES
Causes of contract being discharged because of impossibility of performance include:
NEW LAWS MAKING THE CONTRACT ILLEGAL, PHYSICAL INCAPACITY OF PERSONS TO RENDER PERSONAL SERVICES, WRONGFUL ACTS OF OTHER PARTIES.
If a plaintiff in a suit for breach of contact can prove any substantial loss but just wants to prove a point, the most likely type of damages she will get is called
NOMINAL damages.
The failure to exercise reasonable care toward another person is known as:
Negligence
These are methods of payment (check, draft, bank note, certificate of deposit).
Negotiable instruments
General Legacy
No specific money or property is identified.
A fire occurred at the Bates Motel. The fire was started by a cigarette that was negligently discarded my Martinez, a visitor at the motel. Wescott, a guest at the Bates Motel, was injured in the fire. The bates Motel was not negligent. Under these facts, is Norman Bates, the owner and operator of Bates Motel, liable for Wescott's injuries?
No. A hotel keeper has a duty to exercise reasonable care to protect guests. Consequently, the Bates Motel is not liable for Wescott's injuries because it was not negligent
A fire occurred at the Candlelight Motel. The fire was started by a cigarette that was negligently discarded by a visitor at the motel. Stan, a guest at the Candlelight, was injured in the fire. The Candlelight was not negligent. Under these facts, is the Candlelight liable for Stan's injuries?
No. A hotelkeeper has a duty to exercise reasonable care to protect guests. Consequently, the Candlelight is not liable for Stan's injuries because it was not negligent.
Jason owns an ice cream shop that sells soft-serve ice cream. (Soft-serve ice cream is any type of ice cream that is dispensed from a machine). Jason wants to obtain a trademark for the name "soft-serve ice cream." For years, numerous stores nationwide have sold "soft-serve ice cream". Does the name "soft-serve ice cream" qualify for trademark protection under federal law?
No. The name is generic, and protection is generally not available for generic names.
Fred signed an "offer" to buy Tony's condo. The offer describes the parties, property, and price. The price is stated to be $80,000, $20,000 cash payable, with the balance to be represented by a promissory note. The offer states that in two weeks the parties will determine the interest to be paid and when the note will be due. Tony accepts the offer. Is a contract formed?
No. The offer was not sufficiently definite to constitute a valid offer.
Common Law
Non-legislated principles and rules of action predicated upon usages and customs
The implied warranty of merchantability is breached in which case?
None of the above.
Independent contractors
Not considered employees; drivers, embalmers, hairdressers, bookkeepers, etc. 1099 Do they set own hours, work for other entities doing the same thing, provide own tools?
Disinheritance
Not naming a person in the will if he/she would receive any part of the estate if the decedent had left not will.
Unjust enrichment
OFFENDS OUR ETHICAL PRINCIPALS
Unjust enrichment
OFFENDS OUR ETHICAL PRINCIPLES.
In order to have a valid contract there must be:
OFFER AND AN ACCEPTANCE.
Which oral contract is unenforceable because it violates the Statue of Frauds?
ON MARCH 1, LEE CONTRACTS TO WORK FOR PAM FROM JUNE 1 TO APRIL 30 OFF THE FOLLOWING YEAR
Banks require that an indorsement on a check be
ON THE BACK WITHIN ONE AND A HALF INCHES OF THE TRAILING EDGE
Banks require that and indorsement on a check be
ON THE BACK WITHIN ONE AND A HALF INCHES OF THE TRAILING EDGE.
In order to try a case a court must have jurisdiction
OVER BOTH THE SUBJECT MATTER OF THE CASE AND THE PERSONS INVOLVED
CERCLA imposes liability for cleanup of hazardous substances on
OWNERS, DISPOSERS, AND OPERATORS OR CONTAMINATED SITES
OSHA
Occupational Safety and Health Administration; implements safety and health programs to employees. Est. recordkeeping to track injuries/illnesses; est training programs; develops/enf job standards. Does not cover self-employed
Biological Death
Occurs 4-6 minutes after clinical death when the brain cells die from lack of oxygen
The person who makes the offer is the
Offeror
Waiting to be engaged
On Call; free to leave employer's premises and attend to personal business as long as can be reached when needed. Does not need to be paid during this time
Which oral contract is unenforceable because it violates the Statute of Frauds?
On March 1, Lee contracts to work for Pam from June 1 until April 30 of the following year.
Engaged to wait
On call; not free to leave, must remain on premises Must be paid for time
Trustee
One who holds a position of trust to beneficiary; in funeral arrangements, the person who has right to control funeral does so on behalf of all survivors.
Trustee
One who holds title to property or another position of trust to a beneficiary
Legatee
One who inherits personal property under a will
Legatee
One who inherits personal property under a will.
Devisee
One who inherits real estate under a will.
Heir
One who inherits, or is entitled to receive, property by the laws of intestacy from the estate of a deceased person.
Kin
One's relatives collectively; referring to blood relationship (legally, the surviving spouse is not).
A contract in which terms are stated orally is an:
Oral contract
Nuncupative Will
Oral will declared or dictated by testator during last illness before appropriate witnesses to disposal of personal property and afterwards reduced to writing (Not valid in all states)
Nuncupative
Oral will dictated by testator during last illness before appropriate witnesses to dispose of personal property and afterwards reduced to writing.
A type of statutory law set forth by community ethics.
Ordinances
Short Term Exposure (STEL)
Over 15 min period, no more than 2 ppm
If a real estate agent knows the house on a piece of property has foundation problems and doesn't tell her prospective buyer because it may scare the buyer away, the real estate agent is guilty of
PASSIVE FRAUD
The person to whom any negotiable instrument is made payable is called the _______.
PAYEE
Which of the following destroys negotiability of a note?
PAYMENT IN GOLD BULLION.
Penny made these agreements. Which agreement is supported by consideration?
PENNY AND RAY AGREED THAT SHE WOULD PAY $200 FOR RAYS STEREO. THE STEREO IS WORTH $900
Activities that are illegal regardless of their effect are called
PER SE violations.
Duress can be classified as
PHYSICAL, EMOTIONAL AND ECONOMIC
Duress can be classified as:
PHYSICAL, EMOTIONAL AND ECONOMIC
"POS" is an abbreviation for:
POINT OF SALE.
A check drawn prior to the time it is dated is called a
POSTDATED CHECK.
The demand for acceptance of payment made upon the maker, acceptor, drawee, or other payor of commercial paper is called
PRESENTMENT.
The consideration in a sales contract is generally expressed in terms of money or money's worth and is known as the
PRICE.
The make of a note is
PRIMARILY LIABLE FOR ITS PAYMENT.
If a person properly files a lawsuit in accordance with specified law, that person has followed what kind of law
PROCEDURAL LAW
When an agency's rule is challenged, the primary focus of the courts in on the
PROCEDURES FOLLOWED BY THE AGENCEY IN EXERCISING ITS RULE MAKING POWER
Duties of a hotelkeeper include:
PROTECTING A GUEST'S PERSON.
A criminal action
PUNISHES OFFENSES THAT INJURE SOCIETY AS A WHOLE
Damages paid to go beyond merely compensating to punishing the defendant are called
PUNITIVE DAMAGES.
If a real estate agent knows the house on a piece of property has foundation problems and doesn't tell her prospective buyer because it may scare the buyer away, the real estate agent is guilty of
Passive Fraud
Martha issued a negotiable note to Paula. The note was due May 1. Paula indorsed the note and negotiated it to Harry. On May 1, Harry presented the note to Martha and Martha refused to pay. On May 3, Harry gave written notice to Paula that Martha had refused to pay. In this case:
Paula is obligated to pay the note based on her secondary liability.
Penny made these agreements. Which agreement is supported by consideration?
Penny and Ray agreed that she would pay $200 for Ray's stereo. The stereo is worth $900.
Drawer issued a check payable to the order of Penny Thompson. Penny indorsed the check "Penny Thompson" and delivered it to Terry. Under these facts:
Penny may have secondary liability to pay the check if it is dishonored.
Personal Representative
Person who handles distribution of an estate. Either named by the court or by the deceased.
Which oral promise violates the Statute of Frauds?
Pete promises Lender that, if Lender loans $200 to Pete's daughter and his daughter does not repay then loan, then Pete will repay the loan.
Which note be negotiable?
Pete signed a note promising to pay $5,000 on demand to the order of Liz Kelly. In the note, Pete also promised to pay reasonable collection costs and attorney fees if he defaults.
Which contract is unenforceable?
Peter orally contracted to sell $1,000 of nuts to Buyer. Peter did not deliver the nuts. Buyer sent Peter a check as payment, but Peter refused the check and immediately returned it.
Drawer issued a check payable to the order of cash, and delivered it to Peter Bryan. Peter indorsed the check "Pay to Tip Wilson, (signed) Peter Bryan." Under these facts:
Peter's indorsement is a special indorsement. To further negotiate this check, Tip must indorse the check and deliver it to a transferee.
Clinical Death
Phase of somatic death lasting from 4-6 minutes, during which life may be restored (the point at which a person's heart stops beating)
Shipman v. Norton
Plaintiff injured herself when stepping off a porch onto a step which as made in the same brick pattern material as the porch. Plaintiff claimed the funeral home was negligent in not differentiating the steps from the porch. Funeral home defended by alleging the plaintiff was contributory. Court held for the plaintiff finding an undifferentiated step was negligent,it is expected invitees will be emotionally upset after services.
Algor Mortis
Postmortem cooling of the body to the surrounding temperature
Rigor Mortis
Postmortem stiffening of the body muscles by natural body processes
Livor Mortis (Cadaveric Lividity)
Postmortem, intravascular, red-blue discoloration resulting from the hypostasis of blood
Preneed Arrangements/Consumer Credit
Preneed may constitute extensions of consumer credit if FH imposes finance chg, or consumer pays in 4+ installments, qualifies as extensions of credit 25+ preneed arrangements = creditor status
A unilateral mistake will not invalidate a contract if the mistake relates to:
Price or Quantity.
the maker of a note is
Primarily liable for its payment
Define Case Law
Primarily the decisions of the state and local courts. Courts of equity have the ultimate right to decide cases that concern dead bodies. Stare Decisis.
A person engaged in the business of transporting goods or persons for a fee only under special instances and arrangements is a(n):
Private Carrier
If a person properly files a lawsuit in accordance with specified law, that person has followed what kind of law?
Procedural
Parol Evidence Rule
Prohibits the use of oral testimony which contradicts the explicit written word
Full Warranty
Promises that a defective product will be repaired without charge within a reasonable time after a complaint has been made.
Contract Carrier
Provides transportation for compensation only to those with whom it desires to do business
Ownership most commonly occurs through
Purchase
Truth in Lending Act
Purpose is to provide certain disclosures to consumers borrowing money. FH is NOT exempt if: -qualifies as creditor -extends credit to consumers
Funeral Rule
Purposes: 1: gives consumers right to select funeral goods and services as they wish 2: provides access to detailed, itemized pricing prior to purchase decisions 3: prevents misrepresentations and unfair deceptive trade practices in sale of goods or services
If an agent receives checks in payment of the principal's claims but the checks are made payable to the agent personally, the agent should elect to use a _____ indorsement
Qualified
This is not a "true" contract. Rights and obligations are imposed only when one party fails to do something.
Quasi - contract
Which of the following is NOT considered an "act of God"?
RAINSTORM
When an instrument is transferred by assignment, the assignee
RECEIVES ONLY THE RIGHTS OF THE ASSIGNOR AND NO MORE
Taking possession of the goods is called
RECIEPT.
Which of the following is sufficient and valid consideration?
REFRAINING FROM DOING OR PROMISING TO REFRAIN FROM DOING WHAT ONE HAS NORIGHT TO DO.
The unilateral act of an instrument holder, usually without consideration, whereby the holder gives up rights on the instrument or against parties to the instrument is called .
RENUNCIATION
If a buyer has voidable title, such as when the goods were obtained by fraud, the seller can:
RESCIND THE SALE.
A ________ indorsement attempts to prevent the use of the instrument for anything except the intended use.
RESTRICTIVE
A law meant to prevent infiltration of business by organized crime.
RICO (Racketeer Influenced and corrupt Organization Act)
The SEC, a federal agency, has the power to license persons who sell stock in interstate commerce and the power to regulate business conduct that is used to sell securities. However, the SEC does not have the power to establish prices for which securities may be sold. Under these facts, the SEC does NOT possess:
Rate-making power
This indicates a willingness to be bound by promises made during minority. A part of the contract cannot be accepted by the minor. All has to be ratified, or none.
Ratification
A person agrees to carry out an action that is required by the court. If the duty is not carried out, the party will reappear before a criminal court.
Recognizance
Degree of Kindred
Relationship to decedent of his relatives; each generation is one degree, counting to a common ancestor.
Collateral Heirs
Relatives including brothers, sisters, nieces, nephews, and grandparents.
This Act regulates generation, storage, transportation, treatment, and disposal of hazardous wastes.
Resource Conservation and Recovery Act
A temporary order forbidding a certain action.
Restraining order
Rod contracted to build a garage for Tim. The contract required Rod to pay for all materials. Later, Tim promised to pay Rod an extra $500. Tim's promise is binding if it is given for:
Rod's promises to both perform the original contract with Tim and construct a shed, which Rod was not obligated to build.
This is software instructions producing abnormal or unexpected behavior in a computer.
Rogue Program
Maker issued a negotiable note and delivered it to Rose. The note is payable to bearer. Rose negotiated the note to Wilbur without indorsing it. Under these facts:
Rose does not have secondary liability to pay the note if Maker fails t pay.
Roxie agreed to repair Tom's TV for $100. Pursuant to their contract, Tom delivered the TV set to Roxie. Roxie properly repaired the TV. Tom now refuses to pay for the repairs. Under these facts:
Roxie has a lien on the TV. Roxie can keep the TV until Tom pays the repair charge.
An objective of the law is to
SET RULES OF CONDUCT FOR MANY TRANSACTIONS
An objective of the law is to:
SET RULES OF CONDUCT FOR MANY TRANSACTIONS.
Contracts to generally restrain trade are in violation of the
SHERMAN ANTITRUST ACT
Contracts to generally restrain trade are in violation of the
SHERMAN ANTITRUST ACT.
A ____________ indorsement designates the particular person to whom payment should be made.
SPECIAL
Parol evidence means
SPOKEN WORDS
Parol evidence means:
SPOKEN WORDS
The principle that the decision of a higher court should serve as a guide or precedent and control the decision of a similar case in the future is called
STARE DECISIS
A doctrine that makes manufacturers liable without proof of negligence is called
STRICT tort liability
In cases when neither a suit for damages nor rescission will constitute adequate remedy, what may be applied?
SUIT FOR SPECIFIC PERFORMANCE
Seller, who is located in Atlanta, Georgia, contracted to sell a shipment of eyeglasses to SEE Co., located in Duluth, Minnesota. The eyeglasses were sold "f.o.b. Duluth". Seller duly delivered the eyeglasses to a carrier in Atlanta for shipment to SEE Co. in Duluth. The goods were damaged during shipment. Under these facts:
Seller bears the loss to the glasses that occurred during shipment.
Select the correct answer. (The damage to the goods in question is not the fault of either party.)
Seller contracted to sell an unidentified oven to Buyer. Before risk of loss passed, Seller's inventory of ovens was destroyed. In this case, the contract is not avoided, Seller bears the loss, and Seller is liable for breach if an appropriate oven is not delivered to Buyer.
Seller contracted to sell a building to Buyer. The foundation of the building is cracked due to serious structural defects. Seller would not commit fraud in which situation?
Seller does not hide the cracks, but Seller does not tell Buyer about the defects. Buyer does not inspect the building, which would have revealed the building's structural defects.
Which contract is a sale of goods that is governed by Article 2 of the UCC?
Seller makes a contract for the sale of movable storage shed. The contract requires Seller to assemble the shed. The contract price is $10,000, which includes $500 for Seller's labor.
In which case does Seller breach an express warranty?
Seller stated to Byron: "this ring is solid sterling silver." Byron then purchased the ring, but he later discovered that the ring was made of brass, with only a thin silver plating.
Decomposition
Seperation of compounds into simpler substances by the action of microbial and/or autolytic enzymes
The state legislature is considering enactment of a law that would require businesses to install filtering equipment to purify wastes before they are emitted into the air. there are conflicting views among the citizens as to the need for this law, although serious lung problems have occurred in residents exposed to the unfiltered emissions. Which statement best describes the reason favoring enactment of the law?
Seriousness of the consequences of the behavior to be regulated.
This Act declares that any conspiracy to constrain trade among states is illegal and anyone who tries to monopolize interstate commerce is guilty of a felony. This act applies to trade or commerce between 2 or more states and to buyers and sellers.
Sherman Anti-Trust Act
Sis rented a stereo for her apartment from Rent Co. Without authorization, Sis sold the stereo to Third Party who did not know that the stereo belonged to Rent Co. Under these facts:
Sis was not legally entitled to sell the stereo. Third Party did not receive title to the stereo.
Exigent circumstances
Situation requiring immediate action or urgency three conditions must be met: unable to contact family no reason to beleive fam does not want embalming FD advises fam that if embalming was not wanted, it is not charged
How many itemized goods need to be on the GPL
Sixteen
"Let the decision stand." This is used by higher courts when reviewing precedents set by lower courts.
Stare Decisis
Cody has a checking account with State Bank. Cody has $1,000 in his checking account. Cody issued a check payable to Payee for $500 in payment of a debt. Payee properly presented the check for payment to State Bank, but State Bank dishonored the check. As a result, Cody incurred $50 damages and Payee incurred $25 damages. Under these facts:
State Bank is liable to Cody for $50 damages; State Bank is not liable to Payee.
The lawful rights of a funeral director undertaking a funeral are primarily derived from what two sources?
Statues, Contracts
Laws passed by legislative bodies, congress, state legislatures, city councils; may be amended or repealed.
Statutes
Susan bought a watch that cost $300. The watch was guaranteed by a written, full one-year warranty. One month later, the watch stopped running. Seller has repeatedly tried to fix the watch, but the watch still does not work. Under these facts:
Susan may request a full refund or a new, replacement watch.
Property that can be seen, touched, and possessed is known as
TANGIBLE property.
A substantial, intentional alteration of a written contract without the consent of the other party discharges the contract.
TENDER OF PERFORMANCE.
When an instrument is transferred by assignment:
THE ASSIGNEE RECEIVES ONLY THE RIGHTS OF THE ASSIGNOR AND NO MORE.
Which of the following documents is designed to protect the civil rights and liberties of the citizens and the states
THE BILL OF RIGHTS
If a sale is divisible, having a legal part and an illegal part:
THE COURT WILL ENFORCE ONLY THE LEGAL PART.
A tort action must be brought
THE INJURED PERSON
When two or more persons enter into a contract with someone else, the contract may be joint, several, or joint and several. What determines the type of contract?
THE INTENTION OF THE PARTIES
When two or more persons enter into a contract with someone else, the contract may be joint, several, or joint and several. What determines the type of contract?
THE INTENTION OF THE PARTIES.
In a typical jury trial:
THE JURY IS SELECTED BEFORE OPENING STATEMENTS ARE MADE.
Johnson was sued in a state court of record as a result of his involvement in an automobile accident. He was eager for his lawyer. Ilas to file an answer, but she told Johnson additional actions could also be taken. What additional action might Ilas want to take before the case goes to trial?
THE LAWYER MIGHT WANT TO CONDUCT DISCOVERY TO OBTAIN INFORMATION RELEVANT TO THE SUBJECT MATTER OF THE ACTION, THE LAWER MIGHT FILE A MOTION TO DISMISS THE CASE OR FILE A MOTION FOR JUDGMENT BASED SOLELY ON THE PLEADINGS, THE LAWYER MIGHT FILE A MOTION TO OBTAIN A RULING ON THE ADMISSIBILITY OF EVIDENCE OR TO SUPPRESS EVIDENCE
If a negotiable instrument is only partially filled in and signed before delivery
THE MAKER OR DRAWER IS LIABLE IF THE BLANKS ARE FILLED IN ACCORDING TO INSTRUCTIONS
If a negotiable instrument is only partially filled in and signed before delivery:
THE MAKER OR DRAWER IS LIABLE IN THE BLANKS ARE FILLED IN ACCORDING TO INSTRUCTIONS.
Which off the following statements is not true
THE ORIGINAL U.S. CONSTITUTION WAS ADOPTED IN 1791 AND GUARANTEED INDIVIDUAL RIGHTS FOR CITIZENS
Who is the original holder of an instrument?
THE PAYEE
Warranties of the assignor include
THE RIGHT IS VALID AND EXISTING AT THE TIME THE ASSIGNMENT IS MADE
Warranties of the assignor include:
THE RIGHT IS VALID AND EXISTING AT THE TIME THE ASSIGNMENT IS MADE.
Martinez issued a check payable to Lopez. Lopez negotiated the check to McFall (a holder in due course). On April 1, Martinez gave his bank an oral stop payment order. On April 10, McFall presented the check for payment and Martinez's bank paid the check. Under these facts
THE STOP PAYMENT ORDER WAS VALID, BUT IT DOES NOT AUTOMATICALLY TERMINATE MARTINEZ'S LIABILITY TO PAY THE CHECK
To satisfy the Statute of Frauds, what happens?
THE WRITING NEED ONLY GIVE ASSURANCE THAT A TRANSACTION EXISTED.
Which of the following statements constitutes a warranty?
THIS GARMENT IS MADE FROM 100% COTTON FIBER
Which of the following statements constitutes a warranty?
THIS GARMENT IS MADE FROM 100% COTTON FIBER.
All sellers make a warranty of
TITLE
An important distinction between a sale and a contract to sell is the
TITLE.
The right of ownership of property or evidence of ownership is called
TITLE.
Which of the following statements is true?
TORTIOUS ACTS CAN SOMETIMES BE CONSIDERED CRIMES ALSO
A type of draft used in the sale of goods is called a
TRADE ACCEPTANCE.
Sales of patent- or trade- name articles are
TREATED WITH RESPECT TO WARRANTIES IN THE SAME WAY AS ANY OTHER SALE.
The original trial of a court case is conducted by
TRIAL COURTS
A bearer is a holder of negotiable instruments. .
TRUE
A blank endorsement is one having no words other than the name of the indorser.
TRUE
A carrier may charge extra for baggage in excess of a reasonable amount.
TRUE
A carrier of goods is a bailor Moving vans, delivery services, and truck fleets are usually considered private carriers
TRUE
A common carrier must serve without discrimination to all who apply.
TRUE
A contract to sell goods is a contract whereby the seller agrees to transfer ownership of goods in the future.
TRUE
A drawee is liable for payment of a draft only after accepting it.
TRUE
A hotelkeeper's lien on baggage extends to all wearing apparel not actually being worn.
TRUE
A limited defense is one that cannot be used against a holder in due course. .
TRUE
A private carrier can refuse service that is unprofitable.
TRUE
A sales contract that does not meet the requirements of the UCC is unenforceable.
TRUE
An auction is a sale in which a seller or seller's agent orally asks for bids on goods and orally accepts the highest bid.
TRUE
An oral contract may be enforced if the buyer has made full payment on the contract.
TRUE
An order bill of lading is negotiable.
TRUE
Another term for "goods" is movable, personal property.
TRUE
Bearer instruments may be negotiated by delivery.
TRUE
By accepting a draft, a drawee assumes liability for the payment of the paper.
TRUE
Consumer protection laws give consumers the ability to make intelligent choices when comparing products.
TRUE
Consumer protection protects legitimate businesses as well as consumers.
TRUE
Coupon bonds can be negotiated by delivery.
TRUE
Credit reporting agencies must correct any inaccurate information contained in credit reports.
TRUE
Every seller warrants that goods will be delivered free from any security interest or any other lien or encumbrance of which the buyer at the time of making the contract had no knowledge. .
TRUE
For the exception of nonreallable goods to apply, the seller must have made a substantial beginning in manufacturing the goods.
TRUE
Full warranties permit a refund or replacement if the product contains a defect after reasonable attempts to remedy it.
TRUE
Goods in an auction may be offered for sale with reserve or without service.
TRUE
Goods that are not existing are called future goods.
TRUE
If an agent receives checks in payment of the principal's claims but the checks are made payable to the agent personally, the agent should elect to use a qualified indorsement.
TRUE
If several items are placed on the same sales transaction, it is considered one sale and must meet the statute requirements.
TRUE
In some cases, a person other than the injured party of a contract may sue a professional person for malpractice.
TRUE
In some instances, the absence of a writing does not bar the proof of a sales contract for $500 or more.
TRUE
It is not necessary to use the word order when drawing a negotiable instrument, but it is certainly recommended.
TRUE
Limited defenses can also be called personal defenses and are different from universal defenses.
TRUE
Minority is considered a universal defense.
TRUE
Negotiable instruments don't have to be paid in American money.
TRUE
Order paper is negotiated only by endorsement of the person to whom it is then payable and by delivery of the paper to another person. .
TRUE
Parties whose signatures do not appear on negotiable instruments are not normally held liable for payment.
TRUE
The bank must honor any written document that contains the substance of a normal printed check, even if that document is printed on a cocktail napkin.
TRUE
The fact that the law makes certain transactions illegal gives rise to a defense against an ordinary holder. .
TRUE
The holder of a document of title may convey the title of the person who left the property with the issuer of the document.
TRUE
The indorsement "without recourse" destroys only the liability of the indorser and does not affect any warranties.
TRUE
The order or promise to pay must be absolute and unconditional. .
TRUE
Unless excluded, warranties are automatically made by every transferor of commercial paper. .
TRUE
When a bank returns a check to the holder stamped "insufficient funds," that is considered dishonoring the check.
TRUE
When bearer instruments are negotiated by delivery, that delivery effectively vests ownership in the transferee, making the transferee a holder.
TRUE
If any question arises as to whether the buyer came into possession of goods legally, a bill of sale is acceptable proof.
TRUE.
Risk of loss for damaged goods remains on the merchant seller.
TRUE.
The buyer of a motor vehicle bears the risk of loss when the transaction between buyer and seller is completed even if the buyer isn't in physical possession of the new title.
TRUE.
A system of shortening the trip a check makes from the payee to the drawee bank and then to the drawer is called check .
TRUNCATION
Probate Law
That branch of law dealing with the settlement of a decedent's estate.
Testate Distribution
That distribution made when the maker of a valid will dies.
In regards to Maritime Laws, who has the ultimate say in handing down the law?
The Captain
Waiver
The Courts have recognized that the individual with the paramount right of disposition who does not take action to arrange the funeral/disposition may waive that right.
What is responsible for dictating the practices of the Hebrew faith?
The Torah
Quasi-Property Theory
The accepted theory of the legal status of a dead human body; rights associated with the body are as if it were property for the purpose of disposition only
Revival
The act of giving new validity to a will that has been revoked by means of a codicil which specifically refers to the revoked will and indicates that it is to be effective.
Probate
The act or process of proving a will.
One June 1, Dude Inc. and Alexi entered into an agreement whereby Dude agreed to sell Alexi a custom-made talking watch. At time of contracting, the watch had not been made. The watch is to be delivered on July 1. Under these facts:
The agreement is a contract to sell, and title did not pass when the contract was made.
Cody owed Don $1,000. Don orally told Cody and Sylvia: "I assign to Sylvia all of my right to be repaid the $1,000. Pay this sum to Sylvia." Sylvia did not give Don any consideration for this assignment. Under these facts:
The assignment is valid and Cody must pay the $1,000 to Sylvia.
Pat shipped goods with Freight Inc. Freight Inc. issued Pat a bill of lading for the goods which directs delivery "to the bearer/" Pat negotiated (transferred) the bill of lading to Steve who bought the goods and bill of lading for value and in good faith. The next day, Freight Inc. delivered the goods to Pat without first receiving the bill of lading. Under these facts:
The bill of lading is an order (negotiable) bill of lading.
Define Actual Possession
The body is physically in one's possession.
Corpse
The body of a dead human being, deprived of life, but not yet entirely disintegrated
Human Remains
The body of a deceased human
Civial Law
The body of law concerned with private or purely personal rights
George found a diamond bracelet in a wall safe that was in his hotel room. The bracelet was placed in the safe by its owner, who then forgot about the bracelet. Under these facts:
The bracelet is mislaid property. George must turn the bracelet over the hotel owner.
Final Disposition
The conclusive performance of services with respect to the dead human body
Testate
The condition of leaving a will at death.
Insolvent Estate
The condition of the estate of a deceased person which is unable to pay the debts of the decedent and/or the estate.
Insolvent Estate
The condition of the estate of the deceased person which is unable to pay the debts of the decedent and/or the estate
Fargo Power & Light orally contracted to buy 40 tons of coal from M&M Mining. M&M delivered 20 tons of coal to Fargo. Fargo took receipt of and accepted the 20 tons. Fargo now refuses to accept any more coal. Fargo has not paid for the coal. Under these facts:
The contract is enforceable t the extent that the coal was received and accepted by Fargo. The remainder of the contract is unenforceable.
Levite Undertakers Co. v. Griggs
The court found the refusal to release the body "morally reprehensible". (Similar to Morgan v. Richmond.)
Probate Court
The court having jurisdiction over estates.
A state supreme court has adopted a precedent holding that a promise cannot be enforced unless it is made pursuant to a contract. Kelly has filed a civil suit against Joan, suing Joan for breach of a promise that was not made pursuant to a contract. In this case:
The doctrine of stare decisis requires the trial (lower) court to follow the precedent.
when a draft is presented for acceptance
The drawees signature is all that is necessary
Inheritance
The estate which passes from the decedent to his/her heirs.
Ademption
The extinction or withdrawal of a legacy under a will by an act equivalent to revocation (i.e. the selling, giving away, or destroying of property of the testator before death).
Ademption
The extinction or withdrawal of an inheritance because decedent did not own the property at the time of death
Magnuson-Moss Warranty Act
The federal law that governs consumer product warranties. Passed by Congress in 1975, the Act requires manufacturers and sellers of consumer products to provide consumers with detailed information about warranty coverage. In addition, it affects both the rights of the consumers and the obligations of the warrantors under written warranties
Assume that a federal law requires R&R Inc. to pay time and a half for hours worked by employees in excess of 40 hours per week. However, a state law requires only overtime pay for hours worked in excess of 50 hours per week. R&R maintains that (1) the federal statute violates the US Constitution and (2) the state law prevails over the federal law. In this case:
The federal statute prevails over the state statute.
which of the following statements is true?
The holder of a document of title may convey the title of the person who left the property
Police Power
The inherent power of every government to make reasonable laws to protect the safety, health, morals, and general welfare of its citizens
Theodore issued and signed a negotiable instrument ordering Charles to pay $10,000 on demand "to the order of Mike Lansing." Under these facts:
The instrument is a draft, and it is order paper.
Johannes issued and executed a negotiable instrument promising to pay $5,000 "to bearer" on January 1, 2016. Johannes then delivered the instrument to Reggie. Under these facts:
The instrument is a promissory note, and it is bearer paper.
Gross Negligent Act
The intentional failure to perform a manifest duty in reckless regard of the consequences as affecting the life or property of another
Brain Death
The irreversible cessation of all brain activity due to total necrosis of the cerebral neurons following loss of brain oxygenation. Total and irreversible cessation of brain function as indicated by a flat EEG reading
Probate
The legal process whereby person died with assets in his name alone personal representative gathers assets, pays debts, and distributes assets to parties entitled by law or by will
In which of the following situations would a law be likely to be passed?
The majority of people believe it is unethical to injure someone by playing with a loaded gun.
Per Capita
The method of dividing an estate by which an equal share is given to each of a number of persons, all of who stand in equal degree to the decedent.
Per Capita
The method of dividing an estate by which an equal share is given to each of a number of persons, all of whom stand in equal degree to the decedent
Per Stirpes
The method of dividing an estate where a class or group of distributees take the share which their deceased would have been entitled to, and not as so many individuals (i.e. by right of representation).
Per Stirpes
The method of proportionally dividing an estate between beneficiaries according to their deceased ancestor's share
Thomas Blue wrote out a promissory note in longhand. He signed the note "T. Blue." His signature was written in the left-hand corner of the instrument. Under these facts:
The note satisfies the writing and signature requirements, and it may be negotiable.
Revocation
The omission or cancellation of an instrument, act, license, or promise.
Entombment
The placing of remains in a crypt or mausoleum
Ted, a law student, made one contract to (a) paint Kim's house for $1,500 and (b) represent Kim in a small lawsuit for $250. The painting service is legal; the legal service is illegal. In this case:
The portion of the contract relating to the painting service is valid. The portion of the contract relating to the unlicensed practice of law is void.
Estate
The property of a deceased person, both real and/or personal.
Probate Estate
The property of a decedent that is subject to administration by the executor or administrator of an estate
Cremation
The reduction of a dead human body to inorganic bone fragments by intense heat in a specifically designed retort or chamber
Formality
The requirements of a valid will; it must be in writing, signed by the testator, and witnessed by two people.
Intestate
The state or condition of dying without having made a will.
Oscar issued a check payable to Juanita. Juanita negotiated the check to Laura (a holder in due course). On October 1, Oscar gave his bank an oral stop-payment order. On October 10, Laura presented the check for payment and Oscar's bank paid the check. Under these facts:
The stop-payment order was valid, but it does not automatically terminate Oscar's liability to pay the check.
Thanatology
The study of death
Intestate Succession
The succession of an heir at law to the property and estate of his ancestor when the latter has died without a will.
Who has the primary right to control the funeral?
The wishes of the deceased.
Taking property without consent is:
Theft
Volunteer Driver
Those drivers not under the control of the funeral director
Agent Driver
Those drivers that are under the control of the funeral director
Cremated Remains
Those elements remaining after cremation of a dead human body
Private Carrier
Those who transport only in particular instances and only for those they choose to contract with
an important distinction between a sale and a contract to sell is the
Title
Fran received a hair dryer from Seller pursuant to a sale on approval agreement. The agreement allows Fran to test the dryer for 14 days; Fran may return the dryer any time within this period if she is not satisfied. Fran received the dryer on June 1. Fran tested the dryer for seven days, and she returned it on June 9. During return shipment, the dryer was damaged. Under these facts:
Title and risk of loss never passed to Fran.
Which promise or agreement constitutes a valid contract?
Tom and Helen are competent adults, and in a signed writing Tom and Helen agree that Helen will sell her car to Tom for $2,000.
A private wrong or injury is a:
Tort
A wrong is known as a:
Tort
The person causing the injury is the:
Tort feasor
Meyer v. Nottger
Tort permits recovery of damages for mental anguish by plaintiff when the defendant's conduct is "intentional, wrongful, outrageous, reckless and malicious and done w/ the intention of causing severe emotional distress."
A person who commits a tort and causes injury is called a
Tortfeasor
A word or symbol used to identify goods. The mark must be distinctive, unique, and non-descriptive.
Trademark
Daisy checked into the Palms Motel for an overnight stay. Daisy left a coat in her room. While Daisy was having dinner, her coat was taken from her room. Under these facts:
Traditionally, the Palms would have been liable for the missing coat.
The unauthorized use of or access to a computer is computer
Trespass
A bailment can be for the sole benefit of the bailee.
True
A contract made by a person who has not been formally adjudicated incompetent and is lucid at the time of binding (or valid).
True
A delegating party remains fully liable under a contract.
True
A person who has been found by a court to be guilty of a major crime offense is a tortfeasor
True
A person who is old enough to make fully binding contracts is called and adult.
True
A substantial, intentional alteration of a written contract without the consent of the other party discharges the contract.
True
All contracts that may from their nature injure public service are void
True
All contracts to obstruct justice are void
True
An agreement to lease land must be in writing, in accordance with that Statute of Frauds.
True
An agreement with no legal effect is a void contract
True
An anonymous remailer is a devise that permits sending anonymous email messages.
True
An assignment means that one party conveys right in contract to another who is not a party to the original deal.
True
An offer must be communicated in some manner to an offeree.
True
An option cannot be revoked at will
True
Another term for an informal contract is a simple contract.
True
Anything that can be owner is considered property.
True
Appellate courts hear cases again after lower courts initially hear them.
True
Bankruptcy can discharge contracts.
True
Contracts are the best basis of today's business transactions.
True
Dental work can be considered a necessary.
True
Discriminating in price between competing buyers when the goods are of like grade, quality, and quantity is considered unfair competitive
True
Forbearance is valid consideration if the promisor has a right to do the act.
True
If Johnson promises to sell Laurtitson a nail gun and the nail gun arrives the next day, the promise is consideration.
True
If Khumbata makes a pledge to his local Public Broadcasting System television station, he has made a voluntary subscription.
True
If Rochon and Bailey both sign a contract "I promise...", that binds them jointly and severally.
True
If a contract contains both distinctively legal and illegal parts, a court can set aside the illegal part and enforce the legal part
True
In a contract, all parties obtain rights and assume certain responsibilities
True
In an instance of bailment, actual delivery and acceptance results when goods themselves are delivered and accepted.
True
In many states, convicts can now make contracts.
True
Intoxication can destroy contractual capacity.
True
It is always a good idea (but not a requirement) for all contracts to be in writing
True
It is often difficult to prove oral contracts.
True
Legal tender usually refers to any form of U.S. money.
True
Manufacturers of products could be liable for injuries caused by their products.
True
Minors are liable for the reasonable value of necessaries.
True
Novation can be implied from the parties' actions.
True
One may have rights and obligations imposed by law when no real contract exists.
True
Some circumstances exist in which partial payment of a past-due debt can e classified as consideration.
True
Sometimes contracts are made orally the committed to writing. If, through a typographical error, the written form foes not conform to the oral form, the written form does not bind the parties.
True
Tax and bankruptcy courts are considered special courts.
True
The plaintiff has the burden of proving facts adequate to support the allegations in the complaint.
True
The special federal courts are limited in their jurisdiction by the congressional laws that created them.
True
The two types of administrative agencies are regulatory and nonregulatory.
True
Trial procedure follows prescribed procedural law.
True
True or False - If creditors agree to accept a sum of lesser value and then cancel the debt it is consideration.
True
Whether rights may be assigned depends upon their nature and the terms of the contract.
True
Written laws enacted by legislative bodies are called statues.
True
Kevin sued his employer in U.S. district court for violations of federal antidiscrimination laws. Judgment was entered in favor of the employer, and Kevin wished to appeal the judgment. Under these facts, Kevin will appeal the judgment. Under these facts, Kevin will appeal the judgment to which court?
U.S COURT OF APPEALS
The highest court in the land is the
U.S. SUPREME COURT
A/n ___________ default occurs when not all payments on an instrument have been fully made and have not been made by the due date.
UNCURED
If questions arise about what law governs and international contract for the sale of goods, the U. S. will look to the
UNITED NATIONS CONVENTION ON CONTRACTS FOR THE INTERNATIONAL SALE OF GOODS.
The highest court in the land is the
UNITED STATES SUPREME COURT.
If incapacity makes an instrument void, the incapacity is a/n
UNIVERSAL DEFENSE.
Kevin sued his employer in US district court for violation of federal antidiscrimination laws. Judgment was entered in favor of the employer, and Kevin wishes to appeal the judgment. Under these facts, Kevin will appeal the judgment to which court?
US court of appeals
Laws that fix the maximum rate of interest that may be charged on loans are called
USURY LAWS
M&M Café sold Lucy a guacamole taco. The taco had a piece of avocado pit in it (guacamole is made from avocados, which have pits. ) Under these facts:
Under the reasonable expectation test, the taco is unfit (not merchantable) if Lucy could not reasonably expect to find the pierce of pit in the taco.
If one person has influence over another causing one to enter into a contract not of his or her free will, the contract is voidable and this is called:
Undue Influence
The rule that if a contract for the sale of goods is changed by both parties, no consideration is necessary to make it enforceable is found in the:
Uniform Commercial Code
Set up so that judges would decide cases the same way other judges had decided them.
Uniformity of Common Law
A contract when only one promise is made.
Unilateral Contract
Minority is considered an_______ defense
Universal
Neal was hired as sales manager for a food distributor doing business in Port City, USA. Neal managed the important customer accounts and he was responsible for developing the company's sales strategy. When hired, Neal agreed not to compete in the food distribution business after he quit. Under these facts, Neal's agreement not to compete would be
VALID IF IT PROHIBITED NEAL FROM COMPETING IN PORT CITY FOR ONE YEAR AFTER HE QUIT
When no time is specified in the offer, the reasonable time an offer is open
VARIES WITH EACH CASE DEPENDING ON THE CIRCUMSTANCES
When no time is specified in the offer, the reasonable time and offer is open
VARIES WITH EACH CASE DEPENDING ON THE CIRCUMSTANCES.
Determining the location where a case is to be tried means determining the proper
VENUE
In most states, contracts made by judicially declared incompetent people are
VOID
Contracts made with minors are
VOIDABLE AT MINOR'S DISCRETION BEFORE MINOR REACHES MAJORITY.
Contracts made with minors are
VOIDABLE AT MINORS DISCRETION
An agreement enforceable by law.
Valid Contract
Neal was hired as sales manager for a food distributor doing business in Pork City, USA. Neal managed the important customer accounts and he was responsible for developing the company's sales strategy. When hired, Neal agreed not to compete in the food distribution business after he quit. Under these facts, Neals' agreement not to compete would be:
Valid if it prohibited Neal from competing in Pork City for one year after he quit.
Vanessa issued a check for $500 in payment for some goods. The seller negotiated the check to an innocent purchaser. Which defense can Vanessa assert against the innocent purchaser?
Vanessa has a defense of minority. Vanessa is 17 years old.
Offense that is less serious than a misdemeanor is known as a:
Violation or infraction
In most states, contracts made by judicially declared incompetent people are
Void
When it is of no legal effect a contract is:
Void
Stan lacks the capacity to make a contract because he is a 15 year old minor. Nonetheless, Stan contracts to buy a guitar from Play-It-Again-Sam Sales. Under these facts, the contract is:
Voidable
A contract that may be set aside due to the circumstances of one of the parties.
Voidable Contract
Adopted by businesses as guidelines for employees. They do not carry legal penalties.
Voluntary Codes of Ethics
Madueno issued and signed her personal check ordering Washington Mutual Bank go pay $500 to the order of Guadalupe Lopez. Madueno delivered the check to Lopez. Lopez took the check to WaMu and an authorized bank officer wrote "ACCEPTED FOR PAYMENT" on the check, and signed it. Under these facts
WAMU IS A DRAWEE AND AN ACCEPTOR
The Water Pollution and Control Act regulates U. S. waters and adjacent
WETLANDS.
Which of the following statements is true?
WRITTEN LAWS ENACTED BY LEGISLATIVE BODIES ARE CALLED STATUES
FLSA: Administrative/Enforcement
Wage and Hour Division of Dept of Labor (DOL) covers min wage, overtime compensation, equal pay
Select the correct answer:
Wally issued a check that was drawn on Peoria Bank, as drawee. Peoria Bank accepted the check for payment. In this case, Peoria Bank has primary liability to pay the check.
Corrigal v. Ball & Dodd Funeral Home
Washington Supreme Court permitted an action for negligent infliction of mental distress against a funeral director. Court held that proof of simple negligence, as opposed to malicious or reckless conduct, was sufficient to recover damages for mental anguish.
This Act seeks to maintains proper chemical balances of U.S. waters and wetlands.
Water Pollution and Control Act
which of the following statements is true
When a contract to sell goods is made, title passes in the future
Statute of Descent
When an individual dies intestate, his property descends and is distributed by statute.
Define Constructive Possession
When one does not physically have the body within physical possession, but can take physical custody (actual possession) at will.
Intrastate
Within a state
An offense that can be either a felony or misdemeanor is known as a:
Wobbler
Martinez issued a negotiable note to woods. The note was due may 1. Woods indorsed the note and negotiated it to Rodriguez. On may 1, Rodriguez presented the note to Martinez and Martinez refused to pay. On may 3, Rodriguez gave written notice to woods that Martinez refused to pay in this case
Woods is obligated to pay the note based on her secondary liability
Woods rented a casket for her Halloween party from Johnson family funeral home. Without authorization, woods sold the casket to her friend, Rivera, who recently experienced the death of a family member and needed a burial receptacle. Rivera did not know that the casket belonged to Johnson Family Funeral Home. Under these facts
Woods was not legally entitled to sell the casket, therefore Rivera did not receive good title to the casket
A contract in which terms are stated in writing is a:
Written contract
Which contract is not discharged by impossibility?
XYZ contracted to sell a standard Sony stereo to Bob. Prior to performance, XYZ's stereos were destroyed by fire. Xyz can obtain the required stereo elsewhere to deliver to Bob.
Blue Sky Inc. and Hawk Inc. are securities firms. These companies have recently engaged in three separate fraudulent stock offerings. Each offering violated both federal and state criminal laws, but Big Sky has not been convicted of these crimes. Jim bought stock from Big Sky in one of these offerings. Under these facts, can Jim bring a RICO action against Big Sky?
Yes. Jim may bring a RICO action, and he may be able to recover treble damages.
Tim, a resident of Iowa, is suing Rod, a resident of New York, for $100,000. Time is suing for breach of contract (state law). Would a US district court have jurisdiction to decide this case?
Yes. Tim and Rod are residents of different states and the case involves $75,000 or more.
legatee
a beneficiary who inherits personal property by a will
devisee
a beneficiary who inherits real estate by a will
Creditor -
a business or individual to whom a debt is owed; party who receives guaranty
Cashier's check
a check drawn on a bank's own funds and signed by a responsible bank official •check drawn by a bank on its own funds and signed by the cashier or another official of the bank
Dishonored check
a check not paid by the bank when properly presented
Canceled check
a check which has been paid by the bank and returned to the drawer for record-keeping
Unsecured claims -
a claim which is not supported by a pledge of other assets belonging to the debtor
Secured claims -
a claim which is supported by a pledge of assets belonging to the debtor
Coinsurance Clauses -
a clause in an insurance policy under which the insured agrees to maintain insurance equal to some specified percentage of the property value or otherwise to assume a portion of any loss
Universal life insurance -
a combination of whole life insurance and term life insurance
Risk (peril) -
a condition in which there is a possibility of an adverse deviation from a desired outcome that is expected or hoped for : danger or loss from which the insured is protected, according to contract's terms
Bill of lading
a contract existing between the consignor (shipper) and the carrier •receipt and contract between consignor and carrier regarding terms of the contract of transportation
Unilateral contract
a contract formed when an act is done in consideration for a promise•contract calling for an act in consideration for a promise
Express contract
a contract in which the parties express their intentions, either orally or in writing, at the time of the agreement•contract with the terms of the agreement specified in words
Bilateral contract
a contract which consists of mutual exchange of promises to perform some future acts
Personal service contract
a contract which involves such personal knowledge, skills, or confidence that it can only be performed by the person with whom it is made
Valid contract
a contract which will be enforced by the court•contract enforceable by the law
Probate court
a court having jurisdiction over estates•court that handles individuals' estates and proves authenticity of testator's will
Misdemeanor
a criminal offense which is neither treason or a felony•a less serious criminal offense, generally punishable by fine and/or imprisonment of less than one year
Judgment
a decision of a court of law
Precedent
a decision of a court which is thereafter followed as an example in subsequent similar cases•court decision that determines the decision in a subsequent, similar case
Bill of sale
a document of conveyance which provides written evidence of one's title to tangible personal property •written evidence of title transfership of tangible personal property
Quasi contract
a fictional contract created or implied by a court for a person who is unable to contract for himself (i.e., medical care, death) •an obligation which law creates in the absence of agreement•imposition of rights and obligations by law without a contract•is invoked by courts where there is unjust enrichment•the function of a quasi contract is to raise an obligation in law where in fact the parties made no promises•Implied (in law) contracts
Self-Insurance -
a form of risk management whereby a part of the firm's earnings is earmarked as a contingency fund for possible future losses, specifically for individual loss categories such as property, medical, or worker's compensation
Bequest
a gift of personal property by will
Devise
a gift of real estate by will
Occupational Safety and Health Administration (O.S.H.A.)
a governmental agency with the responsibility for regulatory and enforcement of safety and health matters for most employees
Administrative agency
a governmental body created by legislation empowered to regulate an industry and issue rules and regulations•governmental board or commission with authority to regulate matters or implement laws
Statute
a law enacted by legislative bodies
Statute of limitations
a law that restricts the period of time within which an action may be brought to court•time within which right to sue must be exercised or lost
Misdemeanor
a less serious crimanal offfese generally punished by a fine and/ or imprisonment of less than a year
Duress
a means of removing one's free will, obtaining consent by means of a threat to do harm to the person, his family, his property, or his earning power•obtaining consent by means of a threat
Duress
a means of removing one's free will, obtaining consent by means of threat to do harm to the person, his family, his property, or his earning power
assignment
a means where one party in a contract converys rights to another person, who is not a party to the original contract
Assignment
a means whereby one party in a contract conveys rights to another person, who is not a party to the original contract•conveyance of personal property rights in a contract to a person not a party•transfer to another of tenant's rights
Felony
a more serious criminal offense that is punishable by imprisonment in a penitentiary for more than one year or by death
Summons (process)
a notice of complaint given to a defendant, attaching the complaint and stating a time frame in which a response, or answer, must be filed or an appearance made, and which serves the purpose of conferring personal jurisdiction over the defendant•notice of suit
Injunction
a permanent judicial order or decree forbidding the performance of a certain act court's permanent order forbidding a specific action
Holder in due course
a person in possession of a negotiable instrument who accepts the negotiable instrument in good faith and for value •person who acquires rights superior to original owner •holder for value and in good faith with no knowledge of dishonor, defenses, or claims
Indorsee
a person who becomes the holder of a negotiable instrument by indorsement which names him or her as the person to whom the instrument is negotiated •named holder of indorsed negotiable instrument
Merchant
a person who deals in goods of the kind, or otherwise by occupation is considered to have knowledge or skill peculiar to the practices or goods involved in the transaction
Holder
a person who has possession of a delivered negotiable instrument (commercial paper) •person in possession of instrument payable to bearer
Tort
a private or civil wrong, other than breach of contract, either intentional or caused by negligence, for which there may be action for damages•a wrongful act committed by one person against another person or their property•private wrong for which damages may be recovered
Appeal
a request to a higher court to review a lower court's decision
Contract to sell -
a seller agrees to transfer title to goods to a buyer for a consideration (price), at a future time
Felony
a serious crime (such as murder or arson) imprisonment in a penitentiary for more than a year
Breach of contract
a situation in which one of the parties to a contract fails or otherwise refuses to perform the obligations established in that contract
Statute of Frauds
a statute originally enacted by English Parliament, and now enacted in some form in all the American states, listing certain types of contracts which could only be enforced if in written form•law requiring certain contracts to be in writing in order to be binding or enforceable
Nominal damages
a token award to symbolize vindication of the wrong done to the plaintiff•small amount awarded when there is technical breach but no injury•generally the award is $1.00
Cognovit Clause
a waiver of notice or rights to be heard if sued for default
Implied warranties
a warranty imposed by law, arising automatically because the sale has been made
Commercial paper (negotiable instrument)
a writing drawn in a special form which can be transferred from person to person as a substitute for money or as an instrument of credit•document of payment, such as a check
Three Powers of Administrative Agencies:
a. Licensing power - allowing a business to enter the field being regulated. b. Rate making power - fixing prices businesses charge. c. Power over business practices - Determining if activity of a business is acceptable or not.
A tort about a product may be committed by:
a. Making false statements about a product b. Representing goods and services as being those of someone else.
clinal death
absence of all vital signs
Certificate of deposit
acknowledgment by bank of receipt of money with engagement to repay it with interest
Certificates of deposit -
acknowledgment by bank of receipt of money with engagement to repay it with interest
Adverse possession -
acquiring title to land by occupying it for a fixed period, typically a hostile acquisition
Accession
acquisition of title to property that is attached to property already owned
Cancellation
act indicating intention to destroy the validity of an instrument
interment
act of placing the body in the ground
Theft
act of taking another's property without consent
Theft -
act of taking another's property without consent
Theft
act of taking another=s property without consent
negotiation
act of transferring ownership of a negotiable instrument to another party
nuisance per se
act that are nuisances at all times
outrageous act
act with complete disregard for proper conduct
replevin
action to recover possession of wrongfully withheld personal property
Per se violation
activities deemed illegal regardless of their effect
nuisance in fact
acts that are not nuisances, but may becomes such
not disabled
addictive disorders
codicil
addition of a last will and testament executed with the same formality of the will
Codicil
addition or amendment of a will executed with the same formality as the will itself
Rider -
addition to insurance policy to modify, extend, or limit base policy
Booking
administrative steps taken after an arrested person is brought to a police station, which involves entry of the person's name, the crime for which the arrest was made, and other relevant facts on the police "blotter," and which may also include photographing, fingerprinting and the like
satisfaction
agreed upon settlement contained in the accord
Shipment contract
agreement making seller liable until goods delivered to carrier
complete performance
all parties accomplish everything they were supposed to
Moveable personal property
all physical items except real estate
personal property
all property that is not real property
Personal Property-•
all property which is not real property •moveable property •interests less than complete ownership in land or rights to property
Courts are unwilling to
allow "Party A" to hold "Party B" to a contract if "Party A" knew of the mistake.
Burial funds exclusion
allows for exclusion of assets in the amount of $1500 designated to pay for funeral expenses
Burial space exclusion
allows the value of items to be excluded from an applicants resources
mutilation
altering made to a dead human body from the time of death
Annual percentage rate (APR)
amount charged for a loan as a percentage of the loan
moral turpitude
an act showing inherent baseness of principle or action
Moral turpitude
an act showing inherent baseness or vileness of principle or action; shameless wickedness; depravity
Federal Trade Commission (F.T.C.)
an agency of federal government created in 1914 to promote free and fair competition by prevention of trade restraints, price fixing, false advertising, and other unfair methods of competition
Contract
an agreement between two or more competent persons which is enforceable by law•legally enforceable agreement
Accord and satisfaction
an agreement made and executed in satisfaction of the rights one has
Accord and satisfaction
an agreement made and executed in satisfaction of the rights one has from a previous contract
Void contract
an agreement of no legal effect
Acceptance
an agreement to an offer resulting in a contract •drawee's signed agreement to pay draft
Acceptance
an agreement to an offer resulting in a contract•drawee's signed agreement to pay draft
Unenforceable contract
an agreement which is not in the form required by law, but can be made so by the parties•agreement that is not currently binding but can be made so by the parties •an agreement which at the current time is not enforceable by law
Compensatory damages
an award paid to the injured party to cover the exact amount of their loss, but no more•compensation amount equal to the loss sustained punish the other in excess of those required to compensate the plaintiff for the wrong done Liquidated damages -•the amount of the damages stipulated in a contract to be paid in the event one party breaches the contract•sum fixed by contract in case of contractual breach where actual damages are difficult to measure Specific performance -•a contract remedy by which the court requires the breaching party to perform the contract•carrying out the terms of a contract Chapter 14
Offer
an expression of willingness of offeror to enter contractual agreement•a proposal to make a contract
Natural Person
an individual, not a business entity
Special indorsements
an indorsement which designates the particular person to whom payment is to be made
Qualified indorsements
an indorsement which limits the liability of the indorser
Restrictive indorsements
an indorsement which prevents the use of the instrument for anything except the stated use •an endorsement which limits the use of funds to the purpose stated. (Example: "For Deposit Only")
Will
an instrument executed with required formality by a person making disposition of his or her property to take effect upon his or her death •document providing disposition of property after death
Business Interruption Insurance -
an insurance that protects companies during the period necessary to restore property damaged by an insured peril ;insurance covering loss of profits while a damaged business building is repaired ;coverage pays for lost income and other expenses related to recovery
Counteroffer
an intended acceptance which changes or qualifies an original offer and in effect, rejects that offer and becomes a new offer•offeree=s response that rejects offer by varying terms of initial offer
Wobbler
an offense that can be either a felony or a misdemeanor
Crime
an offense which is injurious to society as a whole
Crime (criminal act)
an offense which is injurious to society as a whole •an action in violation of constitution, statutes, or ordinances (e.g., treason, felony, misdemeanor)•offense against society, the state, or a government•violation of a law
Answer (motion)
an official document detailing a defendant=s defense •written response by defendant to a complaint=s charges
Check
an order by a depositor on the bank to pay a sum of money to a payee •draft drawn on a bank and payable on demand •a piece of commercial paper drawn on funds in a bank account and payable on demand
Stop payment order
an order by a depositor requesting a bank not to pay on a check previously issued
• Certified check
an ordinary check which an official of the bank has accepted by writing across the face of the check the word "certified" or some similar word, and signed •a check for which the bank assures that the drawer has sufficient funds to make payment •a check which carries the guarantee of the bank that sufficient funds are available to pay the check when it is presented
Promissory note
an unconditional promise in writing made by one party to another, signed by the maker, engaging to pay on demand or at a particular time, a particular sum of money to order or to bearer •a negotiable instrument containing a promise to pay
Joint and survivor annuity -
annuity contract paid out until the second of two insured people die
Common carrier
any carrier required by law to convey passengers or freight without refusal if the approved fare or charge is paid (i.e., airline, train, etc.) •one that undertakes to transport without discrimination all who apply for service
Common carriers
any carrier required by law to convey passengers or freight without refusal if the approved fare or charge is paid •airline, train, etc.
- Simple contract
any contract other than a formal contract, whether written, oral, or implied•contract that is not formal
Legal tender
any form of lawful money
Constitution
any fundamental or important law or edict•document that contains fundamental principles of a government
Disability
any physical or mental impairment that substantially limits one or more life activities; a record of having impairment Not protected: current drug use, homosexuality, paraphilias
Property
anything that may be owned
Case law
appellate court decisions that establish precedented principles
case law
appellate court decisions that establish precedented principles
after acquired evidence defense
applied when an employer uncovers evidence that shows that the employee could've been legitimately discharged
Civil Rights Act
applies to co's with 15+ employees No discrimination based on race, religion, color, sex, or national origin amended in 1978 to include pregnant women ADEA
Commercial unit
article, group of articles, or quantity regarded as a separate unit
Baggage
articles necessary for personal convenience while traveling on common carriers
Inventory (merchandise) -
articles purchased with intention of reselling or leasing; goods purchased for resale at a profit
Medicaid/SSI implications
assets cannot be counted when: policy is irrevocable; policy is revocable but less than $2K; purchaser owns cemetery space, casket, urn, and/or vault
Solvency
assets exceed liabilities
due diligence
attention reasonably expect from a person who wants to be legal
With reserve
auction goods may be withdrawn after bidding starts
Without reserve
auction goods may not be withdrawn after bidding starts
Jurisdiction
authority of a court to hear a case
Preauthorized debit
automatic deduction of bill payment from checking account
Right of survivorship -
automatic ownership of property by survivors
Comprehensive policy -
automobile insurance covering large number of miscellaneous risks
livery
automotive equipment made available for hire
punitive damages
award paid to the plaintiff in order to punish the defendant - not for compensation
A CONSTUCTIVE
bailment arises when someone finds and takes possession of the lost property.
Constructive bailment
bailment imposed when a person finds and takes control of lost property
interstate
between two or more states
Option
binding promise to hold an offer open
administrative law
body of law that implements their powers and duties in the form of rules
common law
body of previously recorded legal decisions makes up the law
Registered bonds
bond payable to specific person, whose name is recorded by issuer
Coupon bonds
bond with detachable individual coupons representing interest payments
condition concurrent
both parties need to perform at the same time
mutual rescission
both parties return any consideration already received and discharge the contract
funeral service law
branch of law that relates to dead bodies and regulations regarding to funeral directors
Default
breach of contractual obligation other than money
Creation
bringing property into actual being
A criminal law differs from a civil law in that a government employee (prosecutor or district attorney) is the one who:
brings the criminal action.
vicarious liability
business is liable for employee's actions when on the clock
sole proprietorship
business owned by one person
revocable
buyer may cancel anytime prior to death and recieve refund
How GPL must be delivered
by hand
Regular rate of pay
can include: room/board, bonuses Cannot include: Expenses, profit sharing, vacation pay
intangible property
can't be touched, but it exists, such as goodwill, a good business reputation
recission
canceling
revocation
cancellation of an instrument by the one making the offer
Age Discrimination in Employment Act
cannot discriminate in employment on the basis of age
blue laws
cannot make contracts on sundays
common carrier
carrier required to convery passengers or freight without refusal is the approved fare is paid
Protest
certification of notice of dishonor by authorized official
brain death
cessation of brain function as indicated by a flat EEG reading
death
cessation of life
Arraignment
charging a person with a crime and asking for that person's plea
Usury
charging higher interest rate than law allows
Usury
charging higher interest than law allows
Bank draft (teller's check)
check drawn by one bank on another bank -• •a check drawn by one bank on another bank in which it has funds on deposit
Postdated check
check drawn prior to its date
Stale check
check presented more than six months after its date
Bad check
check the drawee bank refuses to pay for reasons such as insufficient funds or closed accounts
Voucher check
check with voucher attached
Judge
chief officer of a court
Justice of the peace
chief officer of an inferior court
Magistrate
chief officer of an inferior court
lien
claim against property for payment of some debt
Setoff
claim by the party being sued against the party suing
Lien
claim or charge against a property for payment of some debt
unsecured claim
claim which is not supported by a pledge
The safest way to contract with a minor is to have a parent or guardian join in the contract as a:
co-signer with the minor.
order papaer
commercial papaer made payable to the order of some named party
Order paper
commercial paper made payable "to the order of" some named party •the word "order" or its equivalent must be used
Bearer paper
commercial paper payable to any person in possession of it •commercial paper made payable to the bearer (i.e., to the person having possession of such)
Mutual insurance company -
company of insurance policyholders-investors
Insurer -
company writing insurance policy or contract and that agrees to compensate a person for loss under policy terms
workers compensation
compensates injured workers for their injuries
Sale or return
completed sale with the right to return goods
testate
condition of leaving a will at death
insolvent estate
condition of the estate which is unable to pay the debts of the decedent
Ratification
confirming an act which was executed without authority or an act which was voidable•adult indicating contract made while a minor is binding•approval of unauthorized act
ratification
conforming an act which was executed without authority or an act which was voidable
Premium -
consideration paid by insured for a policy
price
consideration stipulated by a contract
Promising to give something to which the other party is already entitled is not
consideration.
Order bills of lading
contract allowing delivery of shipped goods to bearer
Straight bills of lading
contract between shipper and carrier requiring delivery of shipped goods only to consignee
Property Insurance -
contract by which insurer pays for damage to specified property
collective bargaining agreement
contract negotiated by the employer and the union that covers all issues related to employment
Joint contracts
contract obligating or entitling two or more people together to performance under the contract
simple contract
contract other than a formal contract
specific performance
contract remedy by which the court requires the breaching party to perfom the contract
personal service contract
contract that involves such personal knowledge that it can only be performed by the person with whom it is made
Annuity insurance -
contract that pays monthly income to an insured person while insured is alive
insurance -
contract that transfers risk of financial loss for a fee : uneventful protection for the small business or small business owner in regards to monetary compensation in the event that a business and/or personal peril is experienced
Written Contract
contract with terms in writing
Written contract
contract with terms in writing
Oral contract
contract with terms spoken
condition subsequent
contracted will be terminated with something does or does not occur
service contracts
contracting of services rather than goods
Preneed contracts
contracts entered into between public and FD to provide funeral goods and services to the beneficiary upon death
Warranty deed
conveyed to you by a seller when buying real property; seller warrants that he is the real owner, has the right to sell, will defend the title, no liens, no debts, and buyer has free access to the property.
Computers may be objects of crimes, the method of committing a crime, or represent where a crime is committed, such as a:
copyright infringement on the internet.
private corporation
corporation formed by individuals to carry out some non-governmental function
public corporation
corporation formed to cary out government functions
Stock insurance companies -
corporation of stockholders-investors
probate court
court having jurisdiction over estates
Court of record
court in which an official record of the proceedings is kept
Courts of original general jurisdiction
court of record in which a criminal or civil case is first tried
Sheriff
court of record's executive officer
Trial justice
court officer overseeing disposition of a case
Domestic relations court
court that handles divorce and related cases
Federal court of appeals
court that hears appeals in the federal court system
trial court
court which conducts original trial and renders its decision
Juvenile court
court with jurisdiction over cases involving delinquent, dependent, and neglected children
Restraining order
court's temporary order forbidding an action
Trial courts
courts which conduct the original trial and render its decision•court that conducts original trial of a case
Homeowners' policy -
coverage of many perils plus liability for owners living in their houses
Fair labor standards act
covers minimum wage, overtime compensation, and equal pay regulations
general release
creditor releases someone from the obligation of a valid debt
Computer crime
crime that is committed with the aid of computers or because computers are involved
Business Crimes
crimes against a business or committed by using a business
Common law
customs which have become recognized by the courts as binding on the community non-legislated principles and rules of action predicated upon usages and customs
cadaver
dead human body intended solely for scientific study
corpse
dead human body that is not entirely disintegrated
secured claim
debt which is supported by a pledge
precedent
decision of a court which is followed as an example in similar cases
stare decisis
decision of a higher sourt should serve as a guide for similar cases in the future
Verdict
decision of a jury
Quitclaim deeds -
deed where grantor gives up whatever interest grantor has in property, without specifying any particular interest is being transferred
Scherer v. Ruben Memorial Chapel Ltd.
defendant funeral director put a body other than decedent's in decedent's casket and burial clothes, when confronted, defendant tried to convince the plaintiff the body was indeed the decedent. After removing the burial cloths from the wrong body, defendant simply threw the clothes over the decedent's unprepared body.
Universal defense
defense against any holder
Limited defense
defense that cannot be used against a holder in due course
Fraud in the execution
defrauded party did not intend to enter into a contract but false statement made by other party induced contract signing
Fraud in the inducement
defrauded party intended to make a contract but false statements were made about the terms or in obligations of the contract
Presentment
demand for acceptance or payment of commercial paper
Free on board (FOB)
designated point to which seller bears risk and expense of delivery
Anonymous remailer
device that permits sending anonymous e-mail messages and software without the recipient knowing the source of the communication
Testate
died with a will
intestate
died with no will
reasonable accommodation
disabled individual can accomplish the job functions without imposing an undue hardship on the employers
Preference -
disallowed transfer to a creditor
Disclaimer of warranties
disclosure must be in bold, and obvious as well as on price list and Statement
triggering event
dist of GPL when meet with NOK or inquiring party
Negotiable instrument
document of payment, such as a check
Warehouse receipt
document of title issued by storage company for goods stored
living will
document that governs the treatment of an irreversible or terminal illness
Documents of title
document that shows ownership
nonperformance
doesn't fulfill a contract
Trade acceptance
draft drawn by seller on purchaser of goods and accepted by purchaser
Inland drafts
draft drawn in one state and payable in the same or another state
Time drafts
draft payable a certain number of days or months after date or presentation
Sight drafts
draft payable upon presentation of draft's holder
volunteer driver
drivers not under control of the funeral director
agent driver
drivers under the directions of the funeral establishment which is liable for the drivers' actions
not disabled
drug user
Tenancy in common
each owns undivided interest; passes to heirs at death
satisfactory performance
each party of the contract did what he was supposed to do
Automated teller machines
electronic fund transfer (EFT) terminal that performs routine banking services
promissory estoppel
employee must demonstrate that the employer promised job security
grievance procedure
employees have the right to appeal any employers' decisions
employment-at-will
employer can dismiss an employee at any time for any reason
disparate impact
employer has a policy that has an unequal impact
disparate treatment
employer intentionally discriminates against someone belonging to a protected class
civil rights act of 1991
employer must prove that hiring and promotion of people is solely based on the job
affirmative action
employer pursues a policy that will reduce the effects of past discrimination in the workplace
federal insurance contributions act
employers and employees are taxed equally to help pay for workers retirement
immigration reform act of 1986
employers are required to request and examine documentatioin of employment eligibility with all new hires
Family and Medical Leave Act
employers must give people up to 12 weeks of leave for serious medical conditions of family
equal pay act of 1963
employers must pay women the same amount they pay men for the same job
employee retirement income security act
employers must place their pension contributions on behalf of employees into a trust
worker adjustment and retraining notification act
employers with more than 100 full-time employees must give written notice to a union official 60 days before any mass layoff
implied contract
employment relationship in which the employer acts in a way that implies there is a contract for employment
Notice and comment rule making
enacting administrative rules by publishing the proposed rule and then the final rule without holding formal hearings
Rules and regulations
enactments by an administrative body within the jurisdiction of that agency
special endorsement
endorsement which designates the particular person to whom payment is to be made
qualified endorsement
endorsement which limits the liability of the endorser
restrictive endorsement
endorsement which prevents the use of the instrument for anything except the stated use
promissory estoppel
equitable doctrine that prevents the promisor from revoking the promise when the promisee acts in reliance upon the promise
Life estate -
estate for the duration of a person's life
solvent estate
estate in which the assets exceed liabilities
inheritance
estate which passes from the decedent to his heirs
Title
evidence of ownership of property
Intangible personal property
evidences of ownership of rights or values
Usurious contracts
exceeding the maximum rate of interest which may be charged on loans
Marshal
executive officer of a federal court
A contract that includes terms not fully carried out is an:
executory contract.
preparation room
facility designed for embalming and preparing bodies
- Judicial admission
fact acknowledged in a course of legal proceeding
Hazards -
factors that contribute to uncertainty of insured loss
Breach
failure or refusal to perform contractual obligations or agreements
Negligence
failure to exercise ordinary (reasonable and prudent) care•omission to do something which a reasonable and prudent person would do under ordinary circumstances or the doing of something which a reasonable and prudent person would not do•the lack of due care (exercised by a wrongdoer who has not acted as a reasonable person would)•a breach of a legal duty to act carefully resulting in injury to another or damage to another=s property
negligence
failure to exercise ordinary care
Unfair/Deceptive Practices/Acts
failure to provide copy of contract or receipt cancellation provision smaller than 10-pt font failure to provide notice of cancellation failure to inform consumer of right of cancellation fails to honor cancellation, fails to refund within 10 days, fails to notify within 10 days if repossession imminent; transfers or otherwise sells negotiable instrument to 3rd party within 5 days of transaction
Injurious falsehood
false statements of fact that degrades quality of another's goods or services
federal trade commission
federal agency created in 1914 to promote free and fair competition
Diversity jurisdiction
federal jurisdiction based on parties being from different states
Sherman Antitrust Act
federal legislation intended to promote competition among businesses by prohibiting restraint of trade
sherman antitrust act
federal legislation intended to promote competition among businesses by prohibiting restraint of trade
preemption
federal statute takes precedence over a state one
Special federal courts
federal trial courts with limited jurisdiction, such as the U.S. Tax Court
quasi contract
fictional contract created by a bourt for a person who is unable to contract for himself
Friendly fire -
fire contained where intended
Hostile fire -
fire outside of its normal place
Bill of Rights
first 10 amendments of the U.S. Constitution, enacted by the first Congress to protect the civil rights and liberties of citizens and states
Issue
first delivery of negotiable instrument by maker or drawer to give rights to another
When one refrains from doing something, this is called:
forbearance.
escheat
forfeiture of a decedent's property to the state in absence of heirs
escheat
forfeiture of a decedent's property to the state in the absence of heirs
Passive fraud
fraud caused by failure to disclose information when there is a duty to do so
When one intends to and induces another to enter a contract as a result of an intentional false statement of a material fact
fraud has been committed.
waiting to be engaged
free to do what you want while on call
Electronic Funds Transfers
fund transfer initiated electronically, telephonically, or by computer
custodian
funeral director becomes legal protector of body from removal until disposition
not disabled
gender identiy disorder
Funeral Director Classification
generally not considered professionals professionals in MI, OH, TN, KY only (6th dist)
bequest
gift of personal property by will
devise
gift of real estate made by a will
GPL distribution
given at time of inquiry
wrongful discharge
gives employees legal grounds for a lawsuit if they've been dismissed unfairly
Equipment -
goods for use in business
Fungible goods
goods of a homogeneous nature sold by weight or measure
Consumer goods or services
goods or services primarily for personal, family, or household use
Prosecutor (district attorney)
government employee who brings criminal actions
occupational safety and health administration
governmental agency with the responsibility for regulatory and enforcemtn of safety and health matter for most employees
administrative agency
governmental body created by legislation empowered to regulate an industry
Warranties
guarantees made by a seller that an article, good, or service will conform to a certain standard or will operate in a certain manner •assurance article conforms to a standard statement of insured that relates to risk and appears in an insurance contract
Exoneration -
guarantor's right to have creditor compel payment of debt
Blank indorsements
having no words other than the signature of the indorser •indorsement that does not state to whom the instrument is to be paid •the handwritten signature of the payee on the back of the check
Maximum contract rate
higher legal rate of interest allowed
United States Supreme Court
highest court in the United States
Abstract
history of all the filings of record affecting the property described; determines title
Holder Through a Holder in Due Course
holder subsequent to holder in due course
not disabled
homosexual
Merchandise Price List
if not on GPL, must be prepared IE: caskets, urns, OBCS presented to consumers upon triggering event
accord
implied acceptance of less that what has been billed
implied covenant
implied promise in an employment relationship that both parties will be honest and fair with each other
constitution
important law of edict
For a promise to constitute consideration it must:
impose an obligation on the person making it. 1. If you promise to pay a person for a car if it is brought to you, the promise is consideration. 2. Payment of half of an electric bill is not consideration.
undue influence
improper influence that is asserted by one dominant person over another, without the threat of harm
Undue Influence
improper influence that is asserted by one dominant person over another, without the threat of harm•person in special relationship causing another's action contrary to free will
Malpractice
improper or negligent professional act by a professional person•a breach of contract by a professional person•failure to perform a professional service with the ability and care generally exercised by others in the profession
plaintiff
individual who initiates a civil action
silent partner
individual who takes no active part in the management of a partnership, but has capital invested in the business
Constructive notice
information or knowledge the law assumes everyone knows
police power
inherent power of every government to make reasonable laws to protect its citizens
Making false statements degrading the quality of another's goods and services is a tort of:
injurious falsehood, commercial disparagement or trade libel.
will
instrument executed with required formality by a person making disposition of their property to take effect upon their death
power of attorney
instrument granting someone authority to act as agent or attorney for the grantor
general power of attorney
instrument in writing auth one person to do anything for the principal
springing power of attorney
instrument in writing authorizing one person to act as an agent for another affective only if a certain event occurs
general power of attorney
instrument in writing authorizing one person to do anything for the principal
Money order
instrument issued by business indicating payee may receive financial instrument=s indicated amount
No-fault insurance -
insurance companies pay for their insured's injuries regardless of who is at fault
Floating policy -
insurance coverage of property no matter where property is located at time of loss
General Liability Insurance -
insurance covering business liability to customers who might be injured on or off premises or from the product sold to them
Public liability insurance -
insurance designed to protect third persons from bodily injury and property damage
Physical damage insurance -
insurance for damage to car itself
Buy-sell life insurance -
insurance on an owner of a business that will supply enough money for a partner to buy his share of the business on death
Blanket policy -
insurance policy on many items in different places or different items in one place
Deductible Clauses -
insurance policy provision that makes the insurer liable only for losses in excess of the stated deductible; insurance provision whereby insured pays damage up to specified amount; company pays excess up to policy limits
Valued policy -
insurance policy that fixes values for insured items of property
Specific policy -
insurance that applies to only one item
Liability Insurance -
insurance that covers business liability to customers and others who might be injured from the product sold to them
Product Liability Insurance -
insurance that protects a firm against claims that its product caused bodily injury or property damage to the user
Life Insurance -
insurance that provides death benefits to the survivors of the insured; contract of an insurer to pay money upon the death of the insured
Casualty Insurance -
insurance that provides monetary benefits to a business that has experienced an unforeseen peril such as flood, fire, etc.
gross negligent act
intentional failure to perform a manifest duty in reckless disregard of the consequences as affecting the life or property of another
Delivery
intentional transfer of possession and control of something
Easement -
interest in land for nonexclusive or intermittent use; the right that one person has to use the land of another for a special purpose
Remainder -
interest in life estate that goes to someone other than grantor on death of life tenant
Estate -
interest in property
Insurable interest
interest in the nonoccurrence of the risk insured against
Insurable interest -
interest in the nonoccurrence of the risk insured against
Reversion -
interest of grantor in life estate that returns to grantor on death of life tenant
Legal rate of interest
interest rate applied according to statute when no rate specified and interest is to be paid
State court of appeals
intermediate appellate court
Nondeclinable basic service fee
it is not illegal to require payment of this fee as a condition of receiving funeral services
necessaries
items for sustaining a human being at an appropriate living standard
Necessaries
items, required or proper and useful, for sustaining a human being at an appropriate living standard•items required for living at a reasonable standard •examples: food, clothing, and shelter
guardian
judicial appointment of a person to administer the affairs of another person who is incompetent by viture of age or legal disability
Reformation
judicial correction of a contract
Equity
justice system based on fairness provides relief other than merely money damages
Real property
land and things permanently attached to the land
real property
land and those objects permanently attached to land
nuisance
landowner's use of property that interferes with the public
Fee simple estate -
largest, most complete right in property
Statutory law
law created by legislative bodies in contrast to law generated by judicial opinions (case law) and administrative bodies (administrative law)
ordinance
law enacted by a municipality
natural law
law originates from an objective, superior force
positive law
law originates from an outside source that has emerged from society
zoning ordinance
law passed by a municipality by virture of the police power which regulates the kind of buildings, etc. that shall be built in different parts of the municipality.
uniform anatomical gift act
law permitting a person to give all of his body
Procedural law
law specifying how actions are filed and what trial procedure to follow
statute of limitations
law that restricts the period of time within which an action may be brought to court
Criminal law
laws dealing with crimes and the punishment of wrongdoers•law dealing with offenses against society
statutes
laws enacted by legislative bodies
Zoning ordinance
laws passed by a municipality by virtue of its police power which regulates and prescribes the kind of buildings, residences, or businesses that shall be built and used in different parts of the municipality
building code
laws setting forth requirements for buildings
Building code
laws, ordinances, and government regulations setting forth requirements for construction, maintenance, operation, occupancy, use or appearance of buildings
Trailing edge
left side of front of check
Civil law
legal proceedings concerned with the rights of public citizens•body of law dealing with enforcement or protection of private rights•the body of law concerned with private or purely personal rights
Trademark or trade name dilution
lessening the capacity of a famous mark to identify and distinguish goods
Caveat emptor
let the buyer beware
Variable Workweek exception
let's employer pay 1/2 time for overtime (salary with overtime)
Insolvency
liabilities exceed assets of will
Secondary liability
liability for a negotiable instrument that has been presented, dishonored, and notice of dishonor given
Primary liability
liability without conditions for commercial paper that is due
If a minor contracts for necessaries, food, water, shelter, medical care, education, the contract may be voidable, but the minor is:
liable for the reasonable value.
funeral director
licensed person who prepares bodies and operates the funeral establishment
Endowment life insurance -
life insurance that allows the insured, rather than the beneficiary, to collect the face value of the policy upon maturity or to collect that value in annual payments; decreasing term insurance policy combined with a savings account
Whole life insurance -
life insurance that gives lifetime protection to the insured person
Term life insurance -
life insurance that has no cash value whenever the policy expires; contract whereby insurer assumes risk of death of insured for a specified time period
Key-person life insurance -
life insurance that protects a firm against losses due to the death of a key employee
Executory Waiver
limitations of exemption from attachment to real or personal property unless involved in a security interest agreement with the obligation
Inventory
list of assets of estate
inventory
listing of decedent's assets by a personal representative of the estate
Venue
location where a case is to be tried
executor
man appointed by the will of a deceased person to carry out the provisions thereof and settle the estate
administrator
man who has been appointed by the court to settle an estate
testator
man who makes a will
Strict tort liability
manufacturer of product liable without proof of negligence for dangerous product
Face -
maximum amount insurer pays for loss
Special Use Permits
may be required to receive establishment license from state board
equal pay act
may not discriminate in pay based on anything other than seniority and merit
mental anguish
mental suffering resulting from grief
per stirpes
method of distribution a class or group take the shares they would be entitled to (ie, 50% goes to children, 50% goes to grndchildren, no matter how many are in each group)
per capita
method of distribution of the assets of a will equal shares are given
per capita
method of dividing an estate when an equal portion is given to everyone
per stirpes
method of proportionately dividing an estate between beneficiaries
Anyone under the age of 18 years is a:
minor
hostile work environment
misconduct pervades the workplace and distresses people
False representation -
misstatement of material fact by the insured
Mutual mistakes
mistake by both parties to a contract
Unilateral mistakes
mistake by one party to a contract
Confusion of goods
mixing of goods of different owners that under certain circumstances results in one of the owners becoming the owner of all the goods
uniform probate code
model law to achieve uniformity in probate proceedings
Goods
movable tangible personal property
Joint tenancy -
multiple ownership of property in which, at death of one, that individual's share passes on to remaining owners
Retention of price documents
must keep all price lists/docs for 1 year from date of dist
Assessment mutual company -
mutual insurance company in which losses are shared by policyholders in the ratio of their insurance to the company's total insurance in force
A mistake on both parties is a
mutual mistake. If a mutual mistake concerns a material fact, the contract becomes void.
consideration
mutual promise to exchange benefits
Record keeping requirements
name, add, ss# hours/days of workweek; total hours worked day/week daily/weekly stright time earnings reg hourly rate for week when OT worked, total OT pay deductions, total wages pd, date of pmt and pay period covered keep recs for 3 years, payroll for 6
promissory note
negotiable instrument containing a promise to pay
accord and satisfaction
new agreement that results from a dispute between the parties to take the place of the old agreement
A mistake on a unilateral contract that is made at the time of contracting has
no effect on whether the contract is valid or not.
ethical relativism
no standards of right and wrong
Nuisance in fact
not a nuisance per se, but could become a nuisance by circumstance of the location or the manner in which it is operated, such as a cemetery, trash dump, stockyards. Something that has a legitimate use and purpose, you just don't want it in your backyard. NIMBY
If an oral contract is made, and there is an error in typing when the oral contract is written down, the written form is:
not binding.
Real estate mortgage note
note secured by mortgage on real estate
Collateral note
note secured by personal property
process
notice given to a defendant outlining the complaint and saying when an answer must be filed
Nuisance per se
nuisance at all times and under all circumstances, may be dangerous, injurious, or prejudicial to public morals, such as public drnkenness, toxic waste, loud traffic noise. No legitimate purpose.
soldiers and sailors will
nuncupative will where a soldier in the field may dispose of personal property only
Recognizance
obligation entered into before a court to do an act required by law
Debt
obligation to pay in money or goods
householder
occupier of ahouse
Estoppel -
occurs when one party leads the second to a false conclusion that the second party relies on ;the second party would be harmed if the first party were later allowed to show the conclusion was false
Infraction (violation)
offense less serious than a misdemeanor
battery
offensive physical contact
Tender of payment
offer and ability to pay money owed as specified by contract
tender or performance
offer to do what you're supposed to do
Tender of performance
offer to perform in satisfaction of terms as specified in contract
-• Unjust enrichment
one benefiting unfairly at another's expense
Hotelkeepers
one engaged in business of offering lodging to transients
Implied contract
one in which the terms of the contract are implied by acts or conduct of the parties•contract with major terms implied by the parties' conduct or implied or deduced from the facts•Implied (in fact) contracts
Coguarantor (cosurety) -
one of two or more people jointly liable for another's debt, default, or obligation
Anticipatory breach
one party announces intention not to perform a contract prior to time to perform
Non-conforming use
one that was there before zoning laws took place, such as a funeral home that was in a residential area before law changed (grandfathered in)
Consignee
one to whom goods are shipped by common carrier
trespasser
one who enters another person's property
invitee
one who has been invited on the property
legatee
one who inherits personal property under a will
heir
one who inherits property from a will
devisee
one who inherits real estate under a will
Consignor
one who ships goods by common carrier
Color of title -
one's apparent title
kin
one's relatives
best evidence rule
only accept the original contract as evidence
parol evidence rule
oral statements before a contract don't apply in court
Parol evidence
oral testimony
nuncupative will
oral will declared by a testator during last illness
Writ of certiorari
order to produce record of a case for review by a higher court
Not disabled
overweight
Purchase
ownership by payment
Bonding company -
paid surety
Allonge
paper so firmly attached to an instrument as to become part of it
novation
parties mutually agree to replace one of the parties with a new party
Active fraud
party engages in action that causes the fraud
substantial performance
party forgets a couple small details of the contract, but it has no real impact on the outcome of the contract
constructive custody
party has a right to acquire actual custody of the dead body
Principal -
party primarily liable to third person or creditor
payee
party to whom any negotiable instrument is made payable
Guarantors (surety) -
party who agrees to be responsible for obligation of another
principal
party who appoints a second party to serve as an agent
offeror
party who makes an offer
Burial insurance policies
payable on service and merchandise; funeral home is beneficiary; must be sold by licensed agent
Balloon payment
payment that is more than twice the monthly installment payment
final disposition
performance of services with respect to the dead human body
Time Weighted Avg (TWA)
permissible exp limit: .75 ppm over 8 hour workday Action level is .5, so, .75 is sort of useless as a number here
Formaldehyde Exp Standard
permissible formaldehyde exp levels in workplace: Time weighted avg (TWA) Short term exp level (STEL) Action level *FH must notify employees of levels
administrator
person assigned by court when no will, to settle estate
Grantor -
person conveying property
apprentice
person engaged in learning the practice of funeral directing under supervision of a licensed funeral director
Heir
person entitled to inherit if there is no will
durable power of attorney
person executes a power of attorney which will become effective in the event he should become disabled
Convicts
person found guilty by a court of a major criminal offense
Boardinghouse keeper
person in business to supply accommodations to permanent lodgers or boarders, as distinguished from transient guests
Bearer
person in possession of a negotiable instrument •payee of an instrument made payable to whoever is in possession of the instrument
Attorney (lawyer)
person licensed to represent others in court
Life tenant -
person owning property for a lifetime
Insured -
person protected against a loss
Grantee -
person receiving title to property
offeree
person to whom an offer is made
Acceptor
person who agrees to pay a draft, receive goods, or assent to an order
testator/trix
person who died and left a valid will
nuncupative will
person who died made an oral will in front of adequate witnesses, then it was put in writing at a later time and everyone agreed that it what the person said
embalmer
person who disinfects, preserves, and restores a dead human body
trustee
person who has the right to control the funeral does so on behalf of all survivors
Donor
person who makes a gift
Bidder
person who makes an offer at an auction
Donee
person who receives a gift
personal representative
person who represents the estate
Personal Representative
person who settles the estate
Incidental beneficiary
person who unintentionally benefits from performance of contract
Tortfeasor
person whose action causes injury
Holographic will
person wrote out a will, with no witnesses, but in their own hand
Tangible property
personal property
Tangible personal property
personal property that can be seen, touched, or grasped
third party beneficiary
personal who is not a party in the contract, but the parties intend to benefit
Insane
persons who are afflicted with a serious mental disorder impairing their ability to function
Intoxication
persons who are under the influence of alcohol to the extent that their judgment may be impaired
actual custody of the body
physical possession of the dead human body
funeral establishment
place of business used in the care of preparatino for the funeral
morgue
place where bodies are kept until they are released for disposition
entombment
placing of remains in a crypt
Reporting form for merchandise inventory -
policy allowing periodic reporting of inventory on hand to vary coverage amount
Preneed Insurance
policy can only be used for funeral services
Defense Clause -
policy clause in which insurer agrees to defend insured against damage claims
Leasehold interest insurance -
policy protecting property lessee from paying a higher rent after fire damages a leased building
Double indemnity rider -
policy requiring insurer to pay twice the policy's ordinary face amount if death is by accidental means
Open policy -
policy the requires insured party to prove the actual loss sustained
body parts
portion of a human body for transplantation
Sample
portion of a whole mass that is the subject of transaction
Tenancy
possession of real or personal property by right or title, esp under an instrument such as a deed or will
eminent domain
power of a government to take private property for public use
authority
power to act for someone else
Injunctive powers
power to issue cease-and-desist orders
reverse discrimination
practice that is designed to help protected class but has the opposite effect on another protected class
Discovery
pre-trial steps taken to learn the details of the case•means of obtaining unprivileged information from the other party before a trial
Unit pricing
price stated per unit of measurement
Coinsurance -
principle that the insured recovers in ratio of insurance to amount of insurance required
Ethics
principles that determine the morality of one's conduct, motives, and duties•a set of moral principles or values governing individuals or groups•conforming to accepted professional standards of conduct
tort
private or civil wrong other than a breach of contract
tort
private wrong that injures another person in any way
Needlestick Safety and Prevention Act
procedures for protecting against needle sticks
probate
process where the estate is administered
Americans with Disabilities act
prohibits discrimination against handicapped people
Civil Rights Act of 1964
prohibits discrimination in employment based on race, religion, color, sex, or national origin
Community property -
property acquired during marriage that is owned separately and equally by both spouses
Tenancy by the entirety -
property co-ownership by husband and wife, each with right of survivorship upon death of the spouse
Joint tenancy
property is bought in joint, and if one party dies, the other party gets all without going through probate
estate
property of a deceased person
Lost property
property unintentionally left with no intention to discard
Abatement
proportional reduction of a legacy under a will when the assets are not enough to pay it in full
offer
proposal to make a contract
Fiduciary
protects another person's money in a trust
Gramm-Leach-Bliley Act
provides consumers the ability to control how their private financial info is used, and by whom only covers institutions involved in financial activities, not really funeral homes Disclosure is necessary for an FH if: routinely uses credit installment contracts for payment of pre or at need contracts acts as preneed ins agent assists in consumers obtaining loans from lenders to pay for funerals
contract carrier
provides transportation for compensation only to those with whom it desires to do business
restrictive covenant
provision in a deed limiting the use of property
Restrictive Covenants
provisions in deeds limiting use of property and prohibiting certain uses
justice of the peace
public officer who might investigate deaths
coroner
public officer whose investigates cause of death
irrevocable
purchaser may not cancel; once it place, it stays in place
estate
real and personal property of the deceased
Uniform Commercial Code
recognized as the most important statute in business law, it includes provisions which regulate certain sales of goods and negotiable instruments
abatement
reduction of a legacy under a will when assets are payable
cremation
reduction of body to inorganic bone fragment by intense heat
The false statement must be made to a 3rd person. Telling a 3rd person is called communication whereby the 3rd person must understand the statements are
referring to the plaintiff's goals and services to degrade their quality.
Forbearance
refraining from doing something
Rejection
refusal to accept
rejection
refusal to accept
Privity of contract
relationship between contracting parties
degree of kindred
relationship to decedent of his relatives
reciprocity
relationsihp between two states where each extends some privileges of licensure to licensees of the other state
frustration of purporse doctrine
releases a party when performing the obligation would be senseless
disinterment
removal of human remains previously buried
Cram down -
reorganization plan imposed by court in spite of creditors' objections
Model
replica of an article
Confusion of source
representing goods or services as being those of another
engaged to wait
required to be ready to go when on call
Needlestick safety and prevention act
required to have plan, set forth measures to reduce sticks
statute of frauds
requires certain contracts to be in writing to be enforceable
condition precedent
requires performance of promises before the other party is obligated to pay anything
FTC Door to Door Regulation
requires sellers to notify customers that they have the right to cancel the sale at any time prior to midnight of the third business day after the date the contract is signed
If the contract is voidable you may
rescind it or set it aside. This puts both parties back in the position they were in before the contract was made.
liability
responsibility for wrongful acts
Liability
responsibility for wrongful acts or other debts
Extended coverage -
riders to a fire insurance policy covering loss from additional risks
Contribution -
right of coguarantor to recover excess of proportionate share of debt from other coguarantors
Indemnity -
right of guarantor to be reimbursed by principal; compensation for loss sustained
Subrogation -
right of insurer to assume rights of insured
License -
right to do certain acts on another's land
Redemption -
right to free property from lien of mortgage; buying back one's property after default
Last clear chance rule -
rule allowing negligent driver to recover if the other driver had one last clear chance to avoid the accident
Comparative negligence -
rule that contributory negligence reduces, but does not bar recovery from a negligent person
-• Law merchant
rules applied by courts set up by merchants in early England, prior to 1400
Secured Credit Sales -
sale in which seller retains right to repossess goods upon default
Auction
sale of property or goods to the highest bidder, or the bidder's agent, translated orally
Sale on approval
sale that is not completed until buyer approves goods
Destination contract
sales contract in which seller is liable until the goods are delivered to the destination
Bonds
sealed, written contract obligation with essentials of note
mortgage
secured loan on real estate
Mortgage
secured loan on real estate; if one or more payment is missed the note is payable
tying arrangement
seller requires the purchase of an unwanted item to obtain a desired good or service
Perfected security interest -
seller's right to collateral that is superior to third party's right
Building codes
set forth requirements for construction, mtc, operation, occ, use, or appearance
Rogue program
set of software instructions that produces abnormal computer behavior
subchapter S corporation
shareholders elect to be taxed as a partnership without losing corporation status
Check truncation
shortening a check's trip from the payee to the drawee bank and then the drawer
Overtime pay
should be no less than 1.5x reg pay
Pirated software
software copied illegally
State trust laws
some states practice their policy power by requiring that preneed funds be placed in a trust until the time of death
special agent
someone authorized by the principal to execute specific acts
Nuisance
something that annoys and disturbs one in possession of his property, rendering its ordinary use physically uncomfortable to him, interferes with his use of his property
Secondary meaning
special meaning of a mark that distinguishes goods, in such a way as to warrant trademark protection
Nonresellable goods
specially made goods not easily resellable
The statement must have been made maliciously proving malice as a result of:
spite, hostility or ill will with intention of causing harm to the plaintiff.
intestate
state or condition of dying without having made a will
Warranty -
statement of insured that relates to risk and appears in an insurance contract
misrepresentation
stating an untrue fact
Misrepresentation
stating an untrue fact•false statement of a material fact•also called innocent misrepresentation when made innocently without any intention to deceive
statute of frauds
statute listing certain types of contracts which could only be enforced if in written form
americans with disabilities act
statute prohibiting discrimination against the disabled
Antitrust laws
statutes that seek to promote competition among businesses, especially in the same industry
novation
substitution of a new party for one of the original parties to a contract
intestate succession
succession of an heir at law to the property and estate of his ancestor when the latter has died without a will
Partition -
suit to divide joint tenancy or tenancy in common, filed by one owner against the other
Damages
sum of money a wrongdoer must pay to an injured party
quid pro quo sexual harassment
supervisor makes unwelcome sexual advances toward someone
Fidelity bond -
suretyship for someone who handles another's money
Larceny
taking and carrying property away without consent of the person in possession of the property
Receipt
taking possession of goods
Robbery -
taking property by force
Shoplifting
taking unpurchased goods from a store
Pawn
tangible personal property left as security for a debt
Personal property
tangible, movable property; about anything except real property, such as jewelry, furniture, etc
Tying arrangement
telling someone that performance of something is tied to their purchase of something else - unethical! illegal! Unless: Nondeclinable basic svc fee legal requirement (ie, embalming req'd in case of contagion) Impossible, impractical, or burdensome situation (ie, viewing of unembalmed body)
Binder -
temporary contract of insurance
federal unemployment tax act
temporary financial assistance is available to people who are unemployed through no fault of their own
Renewable term insurance -
term insurance renewable without physical examination
Quit claim deed
terminates your interest and conveys all of a person's right, title, and interest in the property described
Discharge
termination of a contract by performance, agreement, impossibility, acceptance of breach, or operation of law
amendment
testator adds or changes the will
Administrative law
that body of law created by federal and state administrative agencies to implement their powers and duties in the form of rules, regulations, orders, and decisions
Price
that consideration stipulated by contract, generally expressed in money or money's worth
Consideration
that which the promisor demands and receives as the price for a promise •what a promisor requires from another party as a price for a promise
Negotiation
the act of transferring ownership of a negotiable instrument to another party
Negotiation
the act of transferring ownership of negotiable instrument, by indorsement, delivery, or physical transfer
Express warranties
the actual and definite statement of a seller, either orally or in writing, at the time of the sale, guaranteeing a standard or level of performance
civil law
the body of law concerned with private personal rights
Debtors -
the business or individual who owes a debt
Execution
the carrying out or completion of some task
Novation
the change of one of the parties to a contract at the mutual agreement of the original parties•termination of a contract and substitution of new contract with same terms but a new party•the substitution of a new party for one of the original parties to a contract, such that the prior contract terminates and a new one substitutes for it
Service contracts
the contracting of services rather than goods
ademption
the extinction or withdrawal of a legacy under a will by an act equivalent to revocation
Burglary
the forcible breaking and entering of premises closed for business with the subsequent removal of cash or merchandise
Identified goods
the goods specified by the buyer and seller •goods picked to be delivered to the buyer
Plaintiff
the individual who initiates a civil action•person who brings action in a court
Eminent domain
the inherent power of a government to take private property for public use. Just compensation required in the US
Gross negligence
the intentional failure to perform a manifest duty in reckless disregard of the consequences as affecting the life or property of another
Fraud
the intentional or reckless false statement of a material fact, upon which the injured party relied, which induced the injured party to enter into a contract, to his or her detriment •inducing another to contract as a result of an intentional or recklessly false statement of a material fact
Fraud
the intentional or reckless false statement of a meterial fact, upon which the injured party relied which induced the injured party to enter into a contract, to his or hers detriment.
Contractual Capacity
the necessity that the parties desiring to enter into contracts meet all requirements
Assignor
the party making the assignment
Payee
the party to whom any negotiable instrument is made payable
Assignee
the party to whom the assignment is made•person to whom contract right is assigned
Bailee
the party who acquires possession, but not the title, of personal property in a bailment •person in possession of bailed property
Bailor
the party who gives up possession, but not the title, of personal property in a bailment •person who gives up possession of property when there is a bailment
Offeror
the party who initiates, or makes, an offer
Indorser
the payee of a note or draft transferring the instrument to another party •one who indorses a negotiable instrument •a person or company whose name is written on the back of a check •the person who writes his or her name on back of a negotiable instrument
Defendant
the person against whom legal action is brought•person against whom a legal case is filed
Offeree
the person to whom an offer is made
Maker
the person who executes a promissory note •an individual who promises to pay on a promissory note •an individual who signs a promissory note
Drawer
the person who executes any draft •a person (depositor) who signs a check, ordering a payment to be made
Drawee
the person, company, or financial institution ordered to pay a draft •a person or concern, usually a bank, that has been ordered to make a payment on a check or draft
Stare decisis
the principle that the decision of a higher court should serve as a guide or precedent and control the decision of a similar case in the future•principle that a court decision controls the decision of a similar future case
Beneficiary -
the recipient of the proceeds of a life insurance policy ; one who inherits property as specified in a will ; person entitled to income or enjoyment of trust property
Disaffirmance
the repudiation of, or election to avoid, a voidable contract
Indorsement
the signature or statement of purpose by the owner on the back of a negotiable instrument, which indicates the future control of the instrument •signature of holder on back of instrument with any directions or limitations •the signature of the payee or other holder placed on the back of a check or other negotiable instrument
Revocation
the testator takes it back
Bailment
the transfer of possession, but not the title, of personal property by one party to another, under agreement •transfer of possession of personal property on condition property will be returned
Sale
the transfer of title to goods from the seller to the buyer for a consideration called the price
Complaint (petition)
the written request which initiates a civil lawsuit•written request to a court to settle a dispute
quasi-property theory
theory that says that body is property for the purpose of disposition only
Executed contracts
those contracts in which the terms have been fulfilled by the parties•fully performed contract
Executory contracts
those contracts in which the terms have not been completely executed or fulfilled by the parties•contract not fully carried out by all parties
Formal contracts
those contracts which must be in special form or produced in a certain way, such as under seal•contract with special form or manner of creation
Future goods
those goods which are not in existence nor identified at the time a contract is agreed to
Existing goods
those goods which are, at the time of the contract, in existence and owned by the seller
shareholders
those having title to one more more shares of stock in a corporation
Minors
those persons under full legal age•person under the legal age to contract•by most states (but not all) the standard is under the age of eighteen
Law
those rules of civil conduct commanding what is right and prohibiting what is wrong (Blackstone=s definition) a rule of action prescribed by an authority able to enforce its will governmental rule prescribing conduct and carrying a penalty for violation
Business law
those rules of conduct prescribed by government and its agencies in regulating business transactions
Private carrier
those who transport only in particular instances and only for those they chose to contract with •carrier that transports under special arrangements for a fee
Accretion -
titled addition to land when owner's land built up by gradual water deposits and water's action on land
Abandon
to discard personal property with no intention to reclaim
Rescind
to set a contract aside or cancel
Arrest
to take into police custody
nominal damages
token award to symbolize vindication of the wrong done to the plaintiff, generally the award is $1.00
unconscionable
too outrageous to be valid
Business tort
tort caused by or involving a business
Finance charge
total dollar amount borrower paid for credit
Unfair competition
total impression of product results in confusion as to product's origin
Delegation
transfer of duties from one person to another
Gift
transfer of ownership of property without consideration
Consignment
transfer of possession of personal goods for purpose of sale Estoppel -•occurs when one party leads the second to a false conclusion that the second party relies on •the second party would be harmed if the first party were later allowed to show the conclusion was false
sale
transfer of title from the seller to the buyer
Negotiability
transferability
Guests
transient received by hotel for accommodations
Carrier
transporter of goods, people, or both
Federal district court
trial court of the federal court system
Inferior court
trial court that hears only cases involving minor offenses and personal disputes
The Robinson-Patman Act prohibits price discrimination
true
When a unilateral mistake of fact has been made, the mistaken party may sometimes receive relief.
true
Several contracts
two or more people individually agree to perform obligation
Alteration
unauthorized change or completion of negotiable instrument to modify obligation of a party
Conversion -
unauthorized exercise of ownership rights; obtaining possession of property and converting it to one's own use
Conversion
unauthorized exercise of ownership rights•obtaining possession of property and converting it to one's own use
Hacker
unauthorized outsider who gains access to another's computer system
Computer trespass
unauthorized use of, or access to, a computer
Trademark or trade name infringement
unauthorized use or imitation of another's mark or name
commercial impracticability
unforeseen hardship has come up that would place a hardship on one party
A one party mistake is a
unilateral mistake.
Debenture
unsecured bond or note issued by a business
Covenants
usually in housing additions; enforced by inhabitants, like an HOA
State laws that limit the rate of interest that may be charged for the use of money are called
usury laws
assault
victim placed in fear without physical contact
forfeiture
voluntarily relinquishing the property; repossession
partnership
voluntary association of two or more people
implied warranties
warranties imposed by law that arise automatically when the sale is made
Full warranties
warranty with unlimited duration of implied warranties, with an agreement to remedy any defects in products
Durable power of attorney
when a person executes a power of attorney which will become or remain effective if the person should later become disabled
Dishonor
when a presentment is made, but acceptance or payment not yet made
Composition of creditors
when all of multiple creditors settle in full for a fraction of the amount owed
Consumer Credit
when an FH extends credit to natural person OR requires payments by 4+ installments
Finance Charges
when imposed, is deemed to be extending credit late charges imposed, discounts for prompt pmt imposed notify consumer consistent in practice
Tenancy in common -
when two or more persons own property and one dies, that owner's interest in the property passes to a person named in the deceased will or, if no will exists, to the deceased's heirs
non-guaranteed
will apply amount to current cost of service
Soldiers and Sailors will
will made in theater of military operations or at sea to dispose of personal estate; oral or written
Guaranteed contract
will provide service as amount paid
holographic will
will written entirely by the testator with his own hand
Concealment
willful failure to disclose pertinent information
Concealment -
willful failure to disclose pertinent information
ademption
withdrawal of an inheritance because defendant did not own the property at the time of death
intrastate
within a state
executrix
woman appointed by the will of a deceased person to carry out the provisions thereof and settle the estate
administratrix
woman who has been apointed by the court to settle an estate
testatrix
woman who makes a will
Trademark
word, symbol, devise, or combination of them used to identify and distinguish goods from other goods
Fair labor standards act
workers in interstate commerce must be paid no less than a minimum wage
Deeds -
writing conveying title to real property; instrument by which the grantor (owner of land) conveys or transfers title to a grantee
negotiable instrument
writing drawn in a special form that can be transferred from person to person as a substitute for money
commercial paper
writing drawn in a special form which can be transferred from person to person as a substitute for money
Financing statement -
writing with signatures and addresses of debtor and secured party and description of the collateral
Security agreement -
written agreement signed by buyer that creditor has a security interest in collateral
Policy -
written contract of insurance
Bill of exchange
written order by one person directing another person to pay a sum of money to a third person
draft
written order requiring a person to pay a sum of money
petition
written request initiating a civil suit
complaint
written request which initiates a civil law suite
contract to sell
seller agrees to transfer title to goods for a consideration at a future time
endorsement
signature of purpose by the owner on the back of a negotiable instrument
breach of contract
situation in which one of the parties of a contract fails or refuses to perform obligations outlined in the contract
discovery
steps taken to learn the details of a case
discharge
termination of a contract
donee beneficiary
third party beneficiary to whom no legal duty is owed and performance is a gift
arrest
to take into police custody
bailment
transfer of possession, but not the title, of personal property
assignor
party making the assignment
implied contract
contract in which terms are implied by acts of the parties
bilateral contract
contract that consists of mutual promises to perform some future acts
formal contract
contract that must be in a special form and is under a seal
express contract
contract where parties express their intentions at the time of agreement
executed contract
contracts in which the terms have been fulfilled
executory contract
contracts in which the terms have not been completely executed
independent contractor
contracts to perform certain tasks for a set fee, but is independent from control of the contracting party
appellate courts
courts hearing cases appealed from a lower court
common law
customs which have become recognized by the courts as binding on the community
judgment
decision of a court of law
close corporation
designation which applies to a corporation in which outstanding share of stock and managerial control are held by a limited number of people
bill of sale
document that provides written evidence of one's title to personal property
disaffirmance
election to avoid a voidable contract
intangible personal property
evidences of ownership of personal property
identified goods
goods specified by the buyer and seller
existing goods
goods that are in existence and owned by the seller
future goods
goods that are not in existence at the time of the contract
blank endorsement
having no word other than the signarture of the endorser
general partner
individuals actively engaged in the business and held to everyone as a partner
counteroffer
intended acceptance which changes the original offer and becomes the new offer
fraud
intentional false statement of a material fact
injunction
judicial order to forbid performance of a certain act
criminal law
laws dealing with crimes and the punishment of wrongdoers
antitrust
laws which seek to promote competition among businesses
misdemeanor
less serious criminal offense, generally punishable by fine and imprisonement of less than one year
duress
means of removing one's free will
board of directors
a body of persons elected by the stockholders to define and establish coporate policy
bear
a person in possession of an instrument
certificate of deposit
acknowledgement by a bank of a receipt of money with an agreement of repayment
express warranties
actual statement of a seller at the time of sale
booking
administrative step taken after an arrested person is brought to police station
implied authority
agent's authority to do things not authorized in order to carry out express authority
contract
agreement between two or more competent persons which is enforceable by law
accord and satisfaction
agreement made and executed in satisfaction of the rights one has from a previous contract
acceptance
agreement to an offer resulting in a contract
liquidated damages
amount of damages stipulated in a aconract to be paid in the event one party breaches the contract
foreign corporation
applies when a corporation operates in a state other than the one that granted the charter
apparent authority
authority an agent is believed by third parties to have because of the behavior of the principal
express authority
authority of an agent
compensatory damages
award paid to the injured party to cover the exact amount of their loss
malpractice
breach of contract by a professional person
corporation
business entity created by statutory law and owned by individuals known as stockholders
execution
carrying out a task
arraignment
charging a person with a crime and asking for that person's plea
cashier's check
check drawn on a bank's own funds and signed by a responsible bank official
certified check
check for which the bank assures that the drawer has sufficient funds to make a payment
limited liability company
combines beatures of corporation and partnership
bearer paper
commercial paper payable to the bearer
bill of lading
contract existing between the cosignor and the carrier
business law
rules of conduct prescribed by government and its agencies in regulating business transactions
crime
offense which is injurious to a society
answer
official document detailing a defendant's defense
holder
one in possession of commercial paper
alien corporation
one that is incorporated in a foreign country
consignee
one to whom goods are shipped by common carrier
assignee
party to whom to assignment is made
drawee
person ordered to pay a draft
endorsee
person who becomes the holder by endorsement
merchant
person who deals in goods of the kind
felony
more serious criminal offense that is punishable by death or imprisonment for more than one year
goods
movable, tangible personal property
contractual capacity
necessity that the parties desiring to enter into contracts meet all requirements
drawer
person who executes a draft
maker
person who executes a promissory note
creditor beneficiary
person who is not a party to a contract to whom to promisor of a contract owes an obligation or duty
endorser
person who writes his or her name on the back of an instrument
minor
persons under legal age
consideration
promisor demands and receives as the price for a promise
beneficiary
recipient of the proceeds of a life insurance policy
fiduciary
relationship of trust that exists between partners
appeal
request to a higher court to review a lower court's decision
law
rules of conduct commanding what is right and prohibiting what is wrong
consignor
one who chips goods by a common carrier
general agent
one who is authorized to execute the principal's business of a particular kind
domestic corporation
operates in the state that granted the charter
check
order by a depositor on the bank to pay a sum of money to a payee
limited partner
partners who have their liability limited to the amount of their investment
agent
party appointed by the principal to enter into a contract with a third party on behalf of the principal
bailee
party who acquires possession, but not the title, of personal property
employer
party who employs employees
bailor
party who gives up possession, but not the title, of personal property
defendant
person against whom legal action is brought
employee
person hired to perform work
